With the dust settled on an incredible 2020 campaign, F1 teams are gearing up for the next season, which is less than two months away. Preparations are underway in full swing as teams try to cope with the new regulations and design a car they think is best poised to withstand the rigors of F1 racing.
The sport is known to be notoriously costly to take part in. At the start of each season, teams must submit a certain amount of money to the FIA as registration fees.
Here’s what all your favorite F1 teams have paid to stay alive and kicking in the F1 championship.
But hold on, before we get to the juicy numbers, let’s see how teams arrive at their registration fee. The rules for registrations state that all ten teams have to pay a base fee of $569,308.
Also Read: AlphaTauri Announce 2021 F1 Car Launch Date With Wicked Teaser
That’s not all, the teams then have to pay a certain fee that corresponds to the number of points that team had acquired in the previous season. This number is same for nine of the ten teams apart from last season’s world championship winner, which in this case is Mercedes.
These nine teams have to pay $5691 for each point they earned in 2020. Mercedes on the other hand has to pay a higher cost ($6830) per point for having won the title.
Now, that we have the calculations out of the way, it’s time to jump to the registration fees.
F1 registration fees for the 2021 season
The Silver Arrows, who won their seventh title last year, pay an amount of $4.482 million in order to defend their title. Last season’s runners up Red Bull have to pay $2.384 million in order to compete again this year.
Third-placed McLaren have to front up $1.718 million, whereas their mid-field rivals Racing Point (Aston Martin) and Renault (Alpine) have had to pay $1.679 million and $1.599 million respectively.
F1’s most successful team, Ferrari, have had to shell out $1.315 million with AlphaTauri having to shell out $1.178 million.
Alfa Romeo, Haas, and Williams that combined for just 11 points last season have had to spend $614.836, $586,381, and $569.308 respectively.
The FIA earns a total of over $16 million from these registration fees. With this money, the FIA is able to finance its F1 activities and give fans another cracking season of racing to look forward to.
Also Read: F1 Reportedly Has an Exciting Backup Plan if Rumored Portimao Race Gets Called off
