Red Bull set to pay record figure to F1 in 2024

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Red Bull set to pay record figure to F1 in 2024

Red Bull's success in 2023 means they will pay more than any other team

Tyler Rowlinson

Wednesday 14 February 2024 19:42

The entry fees for the F1 teams for the 2024 season have been revealed – and champions Red Bull are set to pay a record figure.

Max Verstappen was completely dominant in the 2023 season as he cruised to his third consecutive title with 19 wins out of a possible 22.

With his team-mate Sergio Perez claiming two of the remaining three victories, Red Bull finished the season with a staggering 860 points, more than double the amount of their closest rivals Mercedes.

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With the financial rewards for such a success is significant, it comes at a price for the team to remain on the grid.

Max Verstappen dominated the grid in 2023

But the team will pay more than any other team to stay on the grid due to their success

2024 entry fees revealed

As per the new Concorde Agreements that were revised in 2023, the entry fees for the teams that compete in the sport is determined by how well they perform the year before, meaning that Red Bull will end up paying more than any other team.

A base fee of $657,837 (£521,691) is paid by all the constructors, with an extra $6,575 (£5,214) per point on top. The Constructors’ Championship however are hit even harder, as Red Bull must pay $7,893 (£6,259) for each of their 860 points.

Below is the total amount every F1 team must pay heading into the new season:

Red Bull: $7,445,817 (£5,904,830) Mercedes: $3,347,012 (£2,654,314) Ferrari: $3,327,287 (£2,638,672) McLaren: $2,643,487 (£2,096,391) Aston Martin: $2,498,837 (£1,981,678) Alpine: $1,446,837 (£1,147,400) Williams: $841,937 (£667,690) Visa Cash App RB: $822,212 (£652,047) Stake: $763,037 (£605,119) Haas: $736,737 (£584,261)