Red Bull to be hit with staggering bill worth MILLIONS

Red Bull will have to pay almost £6 million as an entry fee before the start of the 2024 Formula 1 season - a record amount for any team.

The Milton Keynes-based outfit enjoyed a record-breaking season in which they racked up 21 race victories out of a possible 22, and scored a scintillating 860 points on their way to the constructors' championship.

In this sense, Red Bull are a victim of their own success as entry fees in the sport are judged off how many points teams score, and an extra surplus for being constructors' champions.

In 2013, it was decided as part of the Concorde Agreement that every team would pay a base entry fee of $500,000 (around £400,000) plus $5000 (around £4000) per point scored. The constructors’ champion would then pay another $6000.

'Luxury problem'

That leaves Red Bull with a hefty fee to pay ahead of 2024, but team principal Christian Horner isn't too concerned.

"I mean, it's a luxury problem to have because we've had to score the points to generate the invoice," he told Motorsport.com.

"Thankfully, it's outside of the budget cap. But, yeah, it's a big cheque to be writing to the FIA."

READ MORE: All of Verstappen's F1 records and the ones which elude him

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