FIA to 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