Ferrari's success last year leads to increase in entry fee - Iforsports

Ferrari’s success last year leads to increase in entry fee

Formula One doesn’t quite work in the same way that other sports do, the biggest example being the varied sums that teams have to pay to be a part of the circuit.

It is important to note that while the revenue from one single Grand Prix can be anywhere in the region of $100 million to $140 million on an average for thse running the sport, this figure has only been swelling with every year.

It is perhaps one of the few sports that demans that its participants need to cough up some cash even to participate in it and. A system was introduced in 2013 that dictated that every team would be required to spend a flat entry fee of $516,128 along a sliding scale dependent on its success.

That is what makes the constructors’ championship all the more essential for teams.

The constructors’ champion squad must pay a fee of $6,194 for each point earned, while the remaining outfits pay $5,161 for each championship unit scored.

Teams are required to transfer this sum by 30 November.

In 2016, five teams were required to dig deeper into their pockets than other.

As things stand ahead of the upcoming season, Ferrari, Sauber, Haas, Renault and Force India have been asked to pay a higher sum than they were required to in previous years.

Ferrari has had to pay the highest increase, owing to an improved showing in 2017.

The Maranello-based team handed over $3,210,170 for its total of 522 points. It meant an increase of $639,964 on the previous year.

It also meant that Red Bull and Mercedes saved up the most money compared to last year.

Mercedes owners can sit with a broad smile given the fact that they became champions despite a total of 668 points.

However, for Red Bull, the points tally dipped due to a surge in the performance of Ferrari.

It may be interesting to note that Mercedes was required to pay the lowest sum since 2014.

The Stuttgart-Brixworth-Brackley-based company scored 100 point less than last year while it scored more than 700 championship units in the first three years of the double-hybrid era.

Here are the figures:

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