Menu
Leagues and Governing Bodies

Motorsports Governing Body FIA Imposes Heafty Fee Increases For F1 Teams

Motorsports governing body FIA "has drastically increased the fees for F1 teams," according to Jens Marx of the DPA. F1 teams that win "will now be asked to pay up for their success." For the first time in F1 history, teams will have to pay FIA for their accumulated world championship points and their success. The basis for the calculation of the fee is the team's result of the previous year. Teams will have to pay $5,000 for each championship point. The winner of the constructors' title will have to pay $6,000 per point. In addition, each team will have to pay an increased starting fee of $500,000. The starting fee used to be $399,800. Red Bull accumulated 650 points during the '11 season, which means "the team would have had to pay $4.4M in order to compete this season." However, the distribution of F1's TV money is based on the constructors' championship standings, which means Red Bull generated between $50M-$60M last season. The new fees provide FIA with additional revenue of $16M. The fees for the '13 season have to paid by Nov. 30 (DPA, 11/3).

REWARD: In London, Bob McKenzie reported that a $500,000 reward will be offered by F1 CEO Bernie Ecclestone to "any F1 staff" who blows the whistle on their team cheating (DAILY EXPRESS, 11/3).

SBJ Morning Buzzcast: April 25, 2024

Motor City's big weekend; Kevin Warren's big bet; Bill Belichick's big makeover and the WNBA's big week continues

TNT’s Stan Van Gundy, ESPN’s Tim Reed, NBA Playoffs and NFL Draft

On this week’s pod, SBJ’s Austin Karp has two Big Get interviews. The first is with TNT’s Stan Van Gundy as he breaks down the NBA Playoffs from the booth. Later in the show, we hear from ESPN’s VP of Programming and Acquisitions Tim Reed as the NFL Draft gets set to kick off on Thursday night in Motown. SBJ’s Tom Friend also joins the show to share his insights into NBA viewership trends.

SBJ I Factor: Molly Mazzolini

SBJ I Factor features an interview with Molly Mazzolini. Elevate's Senior Operating Advisor – Design + Strategic Alliances chats with SBJ’s Ross Nethery about the power of taking chances. Mazzolini is a member of the SBJ Game Changers Class of 2016. She shares stories of her career including co-founding sports design consultancy Infinite Scale career journey and how a chance encounter while working at a stationery store launched her career in the sports industry. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Global/Issues/2012/11/05/Leagues-and-Governing-Bodies/F1-fees.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Global/Issues/2012/11/05/Leagues-and-Governing-Bodies/F1-fees.aspx

CLOSE