Menu
Leagues and Governing Bodies

FIA Proposal Would Drastically Increase Entry Fees For F1 Teams

Motorsports governing body FIA is considering a drastic "increase of the entry fee for F1 teams," according to Rencken & Nimmervoll of MOTORSPORT-TOTAL.com. The fight regarding money distribution in F1 between FIA and F1 CEO Bernie Ecclestone "could lead to a cost explosion for the teams." Under the current circumstances a team like Red Bull Racing "has to pay an entry fee of" €305,000 ($384,280) a year. Based on Red Bull's '11 numbers, "the new proposal would bump the team's fees up to" €5.25M ($6.15M) annually. Under the new proposal the entry fee for teams "would increase from €305,000 to €700,000" ($881,945) plus an additional €7,000 ($8,820) "for each championship point." Red Bull accumulated a total of 650 championship points in '11. Reason for FIA proposal "is the organization's tight financial situation and Ecclestone's unwillingness to share the racing series' revenue with FIA." In addition to the increase in entry fees, FIA is also considering to "increase the fees for the 'Super License' for F1 drivers along with fines and other FIA services" (MOTORSPORT-TOTAL.com, 9/2). 

HEADS UP: The BBC's Andrew Benson reported that F1 bosses "hope to introduce additional driver head protection" in time for the '14 season. The issue has arisen again after the crash at Sunday's Belgian Grand Prix, when Romain Grosjean's "flying Lotus narrowly missed Fernando Alonso's head." McLaren Design Boss Paddy Lowe, a head protection expert, said: "It once again showed one of F1's biggest safety exposures is the open cockpit" (BBC, 9/3).

SBJ Morning Buzzcast: May 15, 2024

The W's big night; here come the Valkyries and a major step forward in Jacksonville

NASCAR’s Brian Herbst, NFL Schedule Release, Caitlin Clark Effect

On this week’s pod, SBJ’s Austin Karp chats with our Big Get, NASCAR SVP/Media and Productions Brian Herbst. The pair talk ahead of All-Star Weekend about how the sanctioning body’s media landscape has shaped up. The Poynter Institute’s Tom Jones drops in to share who’s up and who’s down in sports media. Also on the show, David Cushnan of our sister outlet Leaders in Sport talks about how things are going across the pond. Later in the show, SBJ media writer Mollie Cahillane shares the latest from the network upfronts.

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/2012/09/04/Leagues-and-Governing-Bodies/FIA.aspx

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

https://www.sportsbusinessjournal.com/Global/Issues/2012/09/04/Leagues-and-Governing-Bodies/FIA.aspx

CLOSE