Winning isn’t easy, and nor does it seem to come cheaply after the FIA have revealed the entry fees which Formula 1 teams will be required to pay for participating in the 2021 World Championship.
Each team pays an entry fee to the FIA based on their results of the previous season.
This structure has been in place since 2013 and is designed to ensure the FIA receive some of F1’s income.
The costs are often extraordinarily expensive, with the more successful teams made to pay a higher entry fee than the backmarkers.
For the 2021 season, the flat entry fee is USD $569,308 and all teams need to pay this amount.
On top of the standard fee, teams also need to pay for every point they collected in the previous championship campaign.
For defending champions Mercedes, it means they will need to fork out $6,830 for every one of the 573 points they scored last season. The other nine teams will pay a slightly less $5,691 per point.
Ultimately, it means that Mercedes will pay a total of $4,482,898 just to enter the 2021 season. Despite being such an eye-watering sum, it is still over $1 million less than the fee they were forced to pay up last year at $5,490,812.
For the ailing Williams team, the British squad will only have to pay the flat entry fee as they failed to score a single point last year. It was the first time since its inaugural season in 1977 that the British team had failed to score a point.
Having endured their worst season since 1980, Ferrari will only have to pay an entry fee of $1,464,038, 32 per cent of what Mercedes will pay.
After ending the previous year second-best to Mercedes, the Scuderia’s troubled 2020 campaign means their new entry fee is over $2 million less than what they had to pay to enter this year’s championship.
Entry fees for the 2021 FIA Formula One World Championship:
- Mercedes: 573 points – $4,482,898
- Red Bull: 319 points – $2,748,078
- McLaren: 202 points – $1,948,968
- Racing Point: 195 points – $1,901,158
- Renault:181 points – $1,805,538
- Ferrari: 131 points – $1,464,038
- AlphaTauri: 107 points – $1,300,118
- Alfa Romeo: 8 points – $623,948
- Haas, 3 points – $589,798
- Williams: 0 points – $569,308