{"id":17283,"date":"2012-12-04T07:05:44","date_gmt":"2012-12-04T12:05:44","guid":{"rendered":"https:\/\/www.racinginfocus.com\/?p=17283"},"modified":"2012-12-04T07:05:44","modified_gmt":"2012-12-04T12:05:44","slug":"fia-completing-push-for-more-f1-revenue-report","status":"publish","type":"post","link":"https:\/\/www.racinginfocus.com\/rif\/formula-1\/fia-completing-push-for-more-f1-revenue-report\/","title":{"rendered":"FIA completing push for more F1 revenue – report"},"content":{"rendered":"

The FIA is close to completing a successful push for a bigger slice of F1’s financial pie, according to a report by the expert financial source Bloomberg.<\/p>\n

\"FIA-2\"Citing ‘two people familiar with the situation’, the media report said the now Jean Todt-led Paris federation is set to boost its coffers to about $40 million per year.<\/p>\n

That represents a 40 per cent revenue increase, thanks to a new deal with F1’s owner CVC and much higher entry fees paid by successful teams like Red Bull.<\/p>\n

Bloomberg said the reigning champion team, for example, will pay $3.3 million simply to enter the 2013 championship, which is ten times what it paid last year.<\/p>\n

Runners-up Ferrari’s 2013 entry bill is a reported $2.5 million.<\/p>\n

“They (the FIA) are harvesting: they’re trying to make as much money as possible while it’s there,” said sports marketing strategy professor Simon Chadwick, of Coventry University.<\/p>\n

One of the unnamed sources said the new CVC agreement will benefit the FIA to the tune of about $25 million.<\/p>\n

But former FIA president Max Mosley – Frenchman Todt’s predecessor – cast doubt on suggestions F1’s governing body is in dire need of more money.<\/p>\n

He said the FIA has “always balanced the books”, and kept almost $40 million in the bank.<\/p>\n

“The FIA isn’t in financial difficulty,” Mosley insisted.<\/p>\n

\u00a9 RIF | GMM<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The FIA is close to completing a successful push for a bigger slice of F1’s financial pie, according to a report by the expert financial source Bloomberg. Citing ‘two people familiar with the situation’, the media report said the now Jean Todt-led Paris federation is set to boost its coffers to about $40 million per …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0},"categories":[3],"tags":[4172,5262,5300,858,5340,284],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/17283"}],"collection":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/comments?post=17283"}],"version-history":[{"count":1,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/17283\/revisions"}],"predecessor-version":[{"id":17284,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/posts\/17283\/revisions\/17284"}],"wp:attachment":[{"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/media?parent=17283"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/categories?post=17283"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.racinginfocus.com\/rif\/wp-json\/wp\/v2\/tags?post=17283"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}