The 2023 Formula 1 season has been nothing short of sensational for the Milton-Keynes-based Red Bull team. They scored victories for fun during the campaign and all that glory has landed a mighty cheque in front of them. Christian Horner and Co. are required to pay a whopping $7.4 million entry fee to race in 2024.

As per the revised Concorde Agreement of 2013, the FIA has based an entry fee for each competitor depending on the number of points scored in the previous season. This originally started with a base fee of around $500,000 plus $5000 per point scored afterward. For the Constructors champions the fee was $6000.

However, the figure has steadily risen with time, and with Red Bull scoring a massive haul of points this year, they are required to pay exactly $7,445,817 to the FIA by 10 December to have their entry confirmed for the 2024 campaign of the pinnacle of motor racing.

Their scale of dominance is quite understandable from taking into account the number of points the second-placed Mercedes scored this year. Lewis Hamilton and Co. only managed 409 points in comparison to Red Bull’s 860. The Austrian outfit simply has had a mega year.

Red Bull secured the 2023 gold quite early in the campaign

While Red Bull has got to dish out immense cash by the end of 10th December, they have truly had a memorable 2023 F1 season. From the get-go, they hit the ground running and never really looked back. They kept on scoring Grand Prix wins left, right, and, center. Drivers such as Hamilton expect to see the same repeating in the 2024 season.

Sergio Perez and Max Verstappen (Credits: Planet F1)

Moreover, considering their dominance, it does not come as a huge surprise that they secured both the 2023 titles quite early in the campaign. Red Bull wrapped up the Constructors Championship during the Japanese GP weekend, whereas, Max Verstappen brought home the Driver’s title in Qatar.

Red Bull has proved too mighty under the current set of regulations and thus, there is a genuine belief that they could prove might again during the 2024 season. The work on their next year’s car has already started and considering this, it would be fascinating to see what kind of a beast Horner and Co. would turn up with next year.