FIA Income From F1 To Increase By 40% In '13 Due To New Concorde Agreement
Motorsports governing body FIA "will reportedly earn 40% more from F1 through the racing series' new Concorde Agreement," according to Markus Lüttgens of MOTORSPORT TOTAL. The new Concorde Agreement, which is supposed to be finalized in the coming weeks, "will bring FIA substantially more income." FIA's annual income from F1 is expected to increase by 40% to about $40M. Part of the sum will come from drastically increased F1 starting fees for participating teams. Instead of the current €309,000 ($404,000) flat-rate per team, the new starting fees will be based on performance. Red Bull Racing, for example, will have to transfer more than €2.5M ($3.3M) to FIA. The combined starting fees of all F1 teams are $16.6M for '13. FIA gets an additional $25M annually from the owner of the racing series' commercial rights. FIA "has leased F1's commercial rights in '00 for 100 years to Bernie Ecclestone's F1 empire" (MOTORSPORT TOTAL, 12/4).