F1 »

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'.




Related Pictures

Click on relevant pic to enlarge
26.05.2012- Jean Todt, FIA president
27.05.2012- Jean Todt (FRA), President FIA
10.05.2012- FIA Hospitality
20.07.2014- Bernie Ecclestone (GBR), President and CEO of Formula One Management
20.07.2014- Lukas Podolski (GER) Football Player and Bernie Ecclestone (GBR), President and CEO of Formula One Management
20.07.2014- Lukas Podolski (GER) Football Player and Bernie Ecclestone (GBR), President and CEO of Formula One Management
20.07.2014- Bernie Ecclestone (GBR), President and CEO of Formula One Management
20.07.2014- Bernie Ecclestone (GBR), President and CEO of Formula One Management
20.07.2014- Race, Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
20.07.2014- Race, Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
20.07.2014- Race, Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
20.07.2014- Race, Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
20.07.2014- Race, Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
19.07.2014- flags
19.07.2014- Free practice 3, Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
19.07.2014- Free practice 3, Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR9
Tom Kristensen (DEN) FIA Steward.
19.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Qualifying Day.
The post qualifying FIA Press Conference (L to R): Valtteri Bottas (FIN) Williams, second; Nico Rosberg (GER) Mercedes AMG F1, pole position; Felipe Massa (BRA) Williams, third.
19.07.2014. Formula 1 World Championship, Rd 10, German Grand Prix, Hockenheim, Germany, Qualifying Day.

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


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



© 1999 - 2014 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.