07 December 2023 , 09:33
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Max Verstappen thinks the Formula 1 entry fee system should be reviewed as his Red Bull team faces an unprecedented bill.
Red Bull scored an unprecedented 860 points as they romped to the constructors' title unchallenged. And Verstappen scored 575 of those himself as he smashed his own record from the previous year.
But, thanks to the current FIA entry fee system, their success comes at significant cost. The team must pay record prices to the governing body to have the chance to defend their crowns.
Each driver must pay a base fee of £8,919 for the 2024 season. But the cost of their licence rises by £1,800 for each point they scored this year. So Logan Sargeant has the lowest fee to pay, because he scored just the one point.
The American's entry cost is just one percent of the one Verstappen is required to pay to compete next year. The Dutchman owes £1,043,919 to the FIA for his continued presence on the grid - a new record for an F1 driver.
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Fortunately for him, Red Bull will be picking up the bill so he doesn't have to use any of his £40m-per-year salary to pay for his licence. But he still thinks the system needs to be looked at in the context of what he and his team achieved this year.
"The team pays that, fortunately," Verstappen told Dutch broadcaster Viaplay. "I do think there should be some normal ratio in that. But, you know, things like that get written down, and I don't think anybody expected that there would end up being that many points scored."
Despite the size of Verstappen's entry fee, it's only a fraction of what the team must pay for their place as a constructor. The flat entry fee for all teams is £542,774 for the 2024 season, which also increases for every point scored by £6,512.
So the 860 points they earned this year means their 2024 entry fee is a whopping £6.14m. That is also a record, but they can afford it. And, as team principal Christian Horner pointed out, it doesn't have to compromise the team's spending in other areas.
I mean, it's a luxury problem to have because we've had to score the points to generate the invoice," said the Red Bull boss. "Thankfully, it's outside of the budget cap. But, yeah, it's a big cheque to be writing to the FIA."