World News – AU – F1 entry fees will be revealed when team costs are lowered

. . The reduced 2020 calendar of Formula 1 means that the teams will have to pay a lower entry fee this year. At world champion Mercedes the bill is cut by more than 1 million US dollars.

CAMEROON MAGAZINE - GM16/12/20202 Mins read44 Views

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An original plan for a 22-race schedule had to be abandoned due to the coronavirus pandemic, and in the end the revised schedule was changed to 17 races.

The reduced ability to earn points means that with the entry fee based on the final score, the cost for everyone has decreased.

As part of a financial restructuring of F1 in 2013 to help the FIA generate part of the sporting income, it was agreed that the teams would pay an entry fee based on the number of times scored in the championship last season Points based.

The cost can be really high at times, however, and the dominant Mercedes team paid the highest fee for the 2020 race last year – a whopping 5. 490. $ 812.

For this year the fees have been set again in the latest F1 sporting regulations and appear to be unchanged from 2019.

According to the current version of the rules, according to the FIA, each team has to pay a basic fee of 556. Pay $ 509 to be submitted when submitting the application.

In addition, for every point scored during the 2020 World Cup, the team that won the World Cup must add an additional 6. Pay $ 677.

For every other participant the cost is 5. $ 563 for each point. That has to be paid for this month once the final points are in.

While Mercedes has to pay the highest fee of all teams after the seventh F1 world title, the lower number of points means a lower value than last year.

Mercedes was only able to score 573 points this year, compared to the 739 in 2019.

But Mercedes isn’t the team that has seen the biggest drop in entry fees this year, as Ferrari’s disappointing campaign means at least a significant cut in payout costs.

Last year the Maranello team took second place at Mercedes with 504 points – and that meant a participation fee of 3. 360. $ 261.

This year, sixth place in the overall standings with only 131 points means that Ferrari’s starting point is 1. 285. $ 262 was lowered.

The biggest loser from the drop in entry fees is the FIA, whose revenue has been drastically reduced by the 17-race calendar.

The loss of five races means that the executive committee’s income from F1 entry fees has increased by at least 2. 837. Has dropped $ 130.

Here is a full breakdown of the entry fees teams will have to pay for 2021 and how they compare to last year.