P1racenews AI automatic summary:
Red Bull faces $7.4m entry fee hangover from record breaking F1 2023 season
Red Bull Racing had a dominant season in Formula 1, winning 21 out of 22 races and securing both world championship titles. They accumulated 860 points, surpassing the previous record set by Mercedes in 2016. However, this success comes with a price, as Red Bull now faces the highest entry fee ever paid by a team in F1. The entry fees for each team are based on the number of points scored in the previous season. For 2024, Red Bull must pay $7,445,817, while Mercedes and Ferrari pay $3,347,012 and $3,327,287 respectively. Red Bull team boss Christian Horner acknowledged the hefty fee but stated that it was a consequence of their success.
