The FIA have revealed the entry fees which Formula One teams will be required to pay for participating in the 2021 FIA Formula One World Championship.
Teams need to pay a certain amount of money to be eligible to take part in the FIA Formula One World Championship. The entry fee is not identical as it depends on the results teams achieved in the previous season.
For the 2021 season, the basic entry fee is $569,308 that all teams need to pay. This amount is 2.3 per cent higher than in the previous year owing to the inflation rate in the United States.
On top of the basic amount, teams also need to pay for every point they collected in the previous championship campaign. The reigning champion Mercedes outfit will need to pay $6,830 for every point scored, while the other nine teams will pay $5,691 per point.
This means that Mercedes will pay a total of $4,482,898 while their closest rival Red Bull will only pay 61 per cent of that amount given that they scored only 55 per cent of the points Mercedes collected in 2020.
Williams will only pay the basic fee for the 2021 season as they did not score any points this year. That was the very first time that the Grove-based squad failed to score a single point apart from its foundation in 1977 when it did not start in every race.
Ferrari endured its worst season by finishing down in sixth position in the Constructors’ Championship. The only times Scuderia ended up sixth in the Teams’ Standings were 1962, 1969 and 1973.
The 1980 season was the only time that the Maranello-based squad finished lower than that by ending up down in 10th position. That year, the team’s drivers Jody Scheckter and Gilles Villeneuve failed to see the chequered flag on a number of occasions and collected only 8 points in total. Ironically, Ferrari’s 2020 result means that the sport’s most successful team will only pay an entry fee of $1,464,038, only 32 per cent of what Mercedes will pay.Entry fees for the 2021 FIA Formula One World Championship:
Mercedes, 573 points, $4,482,898
Red Bull, 319 points, $2,748,078
McLaren, 202 points, $1,948,968
Racing Point, 195 points, $1,901,158
Renault, 181 points, $1,805,538
Ferrari, 131 points, $1,464,038
AlphaTauri, 107 points, $1,300,118
Alfa Romeo, 8 points, $623,948
Haas, 3 points, $589,798
Williams, 0 points, $569,308