The record Formula 1 entry bill that Red Bull have paid for 2023, which Christian Horner described as 'incredible', has emerged. Red Bull proved a dominant force on the track and this showed in the standings, winning the constructors' title by a whopping 205 points.
This also transpired in the drivers' standings, as Sergio Perez managed an impressive third place finish, whilst his teammate Max Verstappen secured a second-successive F1 title to complete a Red Bull double. This success has seemingly come at a cost though.
Speaking at the FIA Prize Giving ceremony, team principal Horner spoke about his team's successes but admitted he was blown away by the entry cost his setup needed to pay to defend their world titles.
He commented: "I think the effort that’s gone in behind the scenes, the biggest regulation change in 40 years, and the whole team in Milton Keynes just rose to that challenge magnificently. And to have achieved those 17 race wins, two sprint race victories out of the three, five 1-2 finishes, 759 points.
“I didn’t realise how much we had to pay the FIA for the points, got the bill the other day – it was incredible. So it’s been incredible and so for the first time to pick up the trophy from Mohammed. I picked the first trophy up from Jean Todt in his first year of his presidency, so it’s fantastic to be picking the trophy up tonight from our new president.”
The numbers behind the 'incredible' fee has now emerged. As a result the basic fee for teams to enter is said to be £500,000, but teams must then pay a certain amount per point based off their points tally for the previous season.
According to Bild , Red Bull's price-per-point is around £6,000 ($7,411), which is then multiplied by the 759 points that Verstappen (454) and Perez (305) earned throughout 2022. This means the Milton Keynes-based team are to pay £5.02m ($6.2m) in total in order to compete in 2023.
The figure is the largest the sport has ever seen, toppling the record previously held by their rivals at Mercedes. At the end of 2019 Mercedes were required to pay £4.6 million ($5.5m) in entry fees after Lewis Hamilton won the sixth of his seventh F1 titles.
