Red Bull Guilty Of Breaking Formula 1 Budget
UK-based Formula 1 racing team Oracle Red Bull Racing has been found guilty of a ‘minor’ breach of Formula 1’s cost cap by the sport’s governing body, the FIA.
Red Bull exceeded the $145m (£114m) limit during 2021, but the FIA has made it clear that the offence sits in the lower of the two categories of breach.
The ‘minor’ rule break means that the team has exceeded the cap by less than 5%, or $7.25m (£6.5m).
An FIA statement said, “The review of the reporting documentation submitted has been an intensive and thorough process, and all competitors gave their full support in providing the required information to assess their financial situation during this first year of the financial regulations.
“The FIA Cost Cap Administration notes that all competitors acted at all times in a spirit of good faith and cooperation throughout the process.”
“We note the findings by the FIA of ‘minor overspend breaches of the financial regulations’ with surprise and disappointment.“
RED BULL RACING
The FIA did not reveal the amount by which Red Bull exceeded the cap or what penalties the team will face, stating that it was still ‘determining appropriate action’.
The penalties listed by the FIA include a deduction of drivers’ and constructors’ championship points, which if applied could have an impact on the 2021 title battle between Max Verstappen and Lewis Hamilton, and a suspension.
Other potential penalties include reprimand, a limitation to conduct aerodynamic or other testing, and/or a reduction in that team’s future cost cap limit.
Red Bull Racing released a statement that read, “We note the findings by the FIA of ‘minor overspend breaches of the financial regulations’ with surprise and disappointment.
“Our 2021 submission was below the cost cap limit. So, we need to carefully review the FIA’s findings as our belief remains that the relevant costs are under the 2021 cost cap amount.
“Despite the conjecture and positioning of others, there is of course a process under the regulations with the FIA which we will respectfully follow while we consider all the options available to us.”
Red Bull is not the only team to face punishment. The Aston Martin F1 team was found to have made a ‘procedural’ error in what is a much less serious offence. This relates to the failure to fill in forms correctly and means the team will likely face a small fine.
Both teams will have the option of appealing against the decision.
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