F1 teams hit with dramatic 2013 entry fee hike

Formula 1 teams have been officially notified of a dramatic rise in the entry fees for next year's world championship, as AUTOSPORT predicted in September

F1 teams hit with dramatic 2013 entry fee hike

After much discussion about the matter in recent weeks - with teams seeking clarification on why the costs were going up - the FIA has finally revised its sporting regulations to confirm the scale of the increase.

, the governing body amended the original plan to include a system whereby the champion outfit pays a premium price.

Under Appendix 7 of the newly published 2013 Sporting Regulations, the governing body states that there will be two levels of fees for teams.

The constructors' champions will have to pay a base $500,000 US plus $6000 US per point gained in the standings.

Every other team that wants to enter will have to pay the basic $500,000 US plus $5000 US per point.

Looking at last year's world championship standings, it means teams will see their entry fee costs rise from last year's standard rate of 309,000 Euro ($397,899) to:

Red Bull (650 points) $4.400 million McLaren (497 points) $2.985 million Ferrari (375 points) $2.375 million Mercedes (165 points) $1.325 million Lotus (73 points) $865,000 Force India (69 points) $845,000 Sauber (44 points) $720,000 Toro Rosso (41 points) $705,000 Williams (5 points) $525,000 Caterham (0 points) $500,000 HRT (0 points) $500,000 Marussia (0 points) $500,000

The updated Sporting Regulations do not lay out a final entry deadline for teams, but do state that teams must pay the entry fee by November 30.

The FIA's decision to increase entry fees comes amid a push by the governing body to increase the revenue it gets from the sport - with it believed to be chasing a total income of $40 million per season as part of a new commercial structure.

The total revenue generated by the entry fees will be at least $16.3 million, with AUTOSPORT also understanding that the governing body is close to agreeing a $24 million payment from commercial supremo Bernie Ecclestone as part of a Concorde Agreement deal.

These payments, allied to an increase in F1 Super Licence fees for drivers, will help the FIA hit its revenue target.

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Series Formula 1
Author Jonathan Noble
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