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).