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FIA seeks larger slice of F1 revenue

The FIA is closing on a deal for a bigger share of F1's revenue, according to reports
The FIA is said to be close to agreeing a deal that will see it take a bigger share of the revenue generated by F1, according to a report in the business publication Bloomberg.

Citing 'two people familiar with the situation', the publication reported that the FIA is set to increase its annual income from F1 to around $40 million, which would be an increase of at least 40 per cent on the figure it currently receives.

The increased figure would be down in no small part to new entry fees put in place for 2013, which see teams pay more depending on how many points they have scored during the current season.

Champions Red Bull are set to pay more than $3 million for their entry, with one of the sources – who would only speak under the condition of anonymity – revealing that the entry fees would amount to more than $15 million of the extra revenue set to go to the governing body.

“They're harvesting,” Simon Chadwick, a professor of sports marketing strategy at Coventry University said. “They're trying to make as much money as possible while it's there.”

FIA president Jean Todt had been quoted in October as saying that the governing body had to find revenue from somewhere as it 'cannot be a federation without having any revenue'.



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Simon - Unregistered

December 05, 2012 5:19 PM

And what do the FIA intend to do with this extra income? In the way of all bureaucracies I would suggest they will become more fat, bloated, wasteful and irritating



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