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Deadline passes for higher 2013 entry fees

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Deadline passes for higher 2013 entry fees
Nov 30, 2012, 9:40 PM

The closing date for Formula 1 teams to pay the full increased entry fees to race in the 2013 season passed today, with the total revenues received...

The closing date for Formula 1 teams to pay the full increased entry fees to race in the 2013 season passed today, with the total revenues received by the FIA set to be in excess of $15 million.

As confirmed recently in next season’s sporting regulations after months of deliberations, all teams now have to pay a flat fee of $500,000 at the time they submit their entries for the following year followed by an additional sum per point scored in the Constructors’ Championship at the completion of that particular season.

The general per-point fee is $5,000, however, the constructors’ champion team, in this case Red Bull, has to pay an additional $1,000 for each point scored.

The balance of the total entry fee was due by today (November 30) and with RBR having ended last weekend’s Brazil race with a total of 460 points from the season, it therefore had to pay an additional $2,760,000 thus bringing its total entry cost for 2013 to $3,260,000.

Having beaten McLaren to second place in the constructors’ championship on 400 points, Ferrari’s total cost, including the basic fee, comes in at $2.5m exactly with its Woking rival’s fee $110,000 less.

Lotus is the only other team with a total entry fee of $2m or more, with Mercedes, Sauber and Force India all just at over $1m and the five teams from Williams downwards all below that mark.

Having still to score a point in F1 after three years, Caterham, Marussia and HRT were all therefore only required to pay the basic $500,000 rate. However, it’s doubtful whether HRT has even got that far with the team’s Spanish investment owners Thesan Capital having put the Madrid-based backmarker up for sale earlier this month.

Although HRT had said at the time of the announcement it hoped a takeover deal would be completed in the “upcoming weeks”, the vibe coming out of Spain and the team itself at Interlagos last week was somewhat sombre and it is believed its employees have been served with redundancy notices.

With no white knight appearing to be in sight, and Spain’s economic situation hardly conducive for a local takeover, it looks increasingly likely that the grid will be down to 22 cars next season.

Read all about the big political stories from behind the scenes this season in the JA on F1 2012 yearbook – The Year of Living Dangerously, which is published on December 7th priced at £10.99; it's a 256 page large format paperback with stunning Darren Heath images and signed copies are available to order via our online shop now.

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