Max Verstappen George Russell Sergio Perez Charles Leclerc Carlos Sainz Oscar Piastri Logan Sargeant Nico Hulkenberg formula 1 red bull Ferrari Max Verstappen George Russell Sergio Perez Charles Leclerc Carlos Sainz Oscar Piastri Logan Sargeant Nico Hulkenberg

The extraordinary costs Red Bull, Verstappen must pay to compete in F1 this year

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news24.com

Formula 1 is expensive. Very expensive. Fans often save up for years on end to attend one race. And while this is the case, teams wanting to join the fray must have deep pockets if they're going to jet around the world and still pay a staff complement of more than 500 people - including drivers.Speaking of drivers, did you know that it is not just as simple as donning a racing suit and clambering in the car's cockpit?

Apart from the intense training regime, there is a fee to pay if you want to compete in an upcoming season.The same goes for teams.

These costs are separate from the budget cap.How does it work?Teams and drivers have a basic participation fee that must be paid ahead of a new F1 season.

However, there is also a fee for every point scored in the previous season.Drivers: $11 047 registration fee, plus $2 230 per point scored in the previous season.Teams: $617 687 entry fee, plus $7 411 per point scored in the previous season.Red Bull Racing driver Max Verstappen had a stellar season in 2022, successfully defending the F1 Drivers' championship he won in 2021.

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