The entry fees for Formula 1 in 2024 have been disclosed

Every year, each team must make a contribution to the FIA to participate in the competition, as reported by PlanetF1.

The latest version of the 2024 FIA Sporting Regulations has revealed the amount each team will pay to enter in 2024. However, this fee is not a fixed amount but rather a variable rate. This means that the more successful a team is in the competition, the higher their contributions will be.

In 2023, the base rate for each team was $617,687, with an additional fee of $7,411 per point for the championship-winning team. The other nine teams paid a lower fee of $6,174. This meant that Red Bull, if we take into account the current year championship, had to pay a total of $6,242,636, which was the highest fee in the tournament.

In 2024, the base rate will be higher. With the inclusion of the U.S. Consumer Price Index, the base rate for each team has been increased by 6.5%. Therefore, the contribution now stands at $657,837, and the price per point for the world champion team is $7,893. Other teams will have to pay $6,575.

Each team must settle their contributions in full by December 10, 2023.