Red Bull forced into RECORD payment for 2024

Reigning Formula 1 champions Red Bull will be forced to pay a record fee coming into the 2024 season.

Max Verstappen dominated the 2023 campaign like no driver before, winning 19 out of 22 possible races.

With his team-mate Sergio Perez claiming two of the remaining three victories, Red Bull finished the season with a staggering 860 points, more than double the amount of their closest rivals Mercedes.

With the financial rewards for such a success is significant, it comes at a price for the team to remain on the grid.

READ MORE: F1 Schedule 2024: Full calendar with all you need to know about every grand prix

2024 entry fees revealed

As per the new Concorde Agreements that were revised in 2023, the entry fees for the teams that compete in the sport is determined by how well they perform the year before, meaning that Red Bull will end up paying more than any other team.

A base fee of $657,837 (£521,691) is paid by all the constructors, with an extra $6,575 (£5,214) per point on top. The Constructors’ Championship however are hit even harder, as Red Bull must pay $7,893 (£6,259) for each of their 860 points.

Below is the total amount every F1 team must pay heading into the new season:

Red Bull: $7,445,817 (£5,904,830) Mercedes: $3,347,012 (£2,654,314) Ferrari: $3,327,287 (£2,638,672) McLaren: $2,643,487 (£2,096,391) Aston Martin: $2,498,837 (£1,981,678) Alpine: $1,446,837 (£1,147,400) Williams: $841,937 (£667,690) Visa Cash App RB: $822,212 (£652,047) Stake: $763,037 (£605,119) Haas: $736,737 (£584,261)

READ MORE: What the 2025 F1 grid looks like after MASSIVE Hamilton move

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