Red Bull will be hoping that Max Verstappen can secure a fourth Formula 1 drivers’ championship in a row in a similarly record-breaking manner. However, they are well aware that the financial implications of Verstappen’s success could be substantial for the team. In the 2023 season, Red Bull demonstrated unprecedented dominance, winning 21 out of 22 races. Their only defeat came at the hands of Ferrari driver Carlos Sainz at the Singapore Grand Prix. Verstappen claimed victory in 19 of those races, while his teammate Sergio Perez stood on the podium only twice. Red Bull’s exceptional performance shattered numerous long-standing records, making it the most one-sided F1 season in history. The team is poised to continue their success in 2024.
Verstappen, who is now a three-time world champion, accumulated 575 world championship points in his latest triumph. This placed him 290 points ahead of his teammate Perez, who finished with 285 points. Together, they earned a staggering total of 860 points. In contrast, the Mercedes duo of Lewis Hamilton and George Russell could only manage 409 points. Red Bull’s remarkable achievements will undoubtedly attract more sponsors to the team, resulting in substantial financial bonuses. However, their dominance will also come at a cost when they calculate their fees for entering the F1 championship in 2024.
According to the FIA, each team starts with a base entry fee of $657,837 (£523,065). Additionally, $6,575 (£5,227) is added to the total amount for every point scored in the 2023 season. As the winners of the constructors’ championship, Red Bull will have to dig deep into their pockets, paying $7,893 (£6,275) for each point earned. The final amount, after considering their 860 points, reveals a substantial bill awaiting them. The Independent reports that Red Bull’s total sum for their success will amount to $7.5 million (£5.9 million). This figure is more than double the amount their rivals Mercedes and Ferrari are required to pay, which stands at $3.34 million (£2.7 million) and $3.33 million (£2.6 million) respectively.
In contrast, Haas, who finished at the bottom of the championship with only 12 points, faces a much smaller financial burden. Including their basic entry fee, the American team will only have to pay ($736,373) £585,512 to secure their entry.
According to the Source total-motorsport.com