Federation Internationale de l’Automobile (FIA), the governing body of Formula 1, has confirmed that Red Bull Racing was guilty of a ‘minor’ breach of the championship’s USD 145 million budget cap last season.
FIA, in a statement, said that its cost cap administration has issued certificates of compliance to seven of the ten participating teams, barring Red Bull, Aston Martin, and Williams. While Aston Martin was deemed to have committed a procedural breach, Red Bull was found guilty for procedural violation and overspending.
Williams, on the other hand, was prosecuted on the grounds of procedural breach as the UK-based manufacturer didn’t submit the files on time last year, for which, it was fined $25,000 earlier this year.
Red Bull’s cost cap breach, which was found to be less than 5 percent of the allowed budget, is classified as ‘minor’ breach and is entitled to a fine or a deduction of constructors’ or drivers’ championship points. The latter might not be the case as it appears. However, FIA has said that it is yet to determine the penalties for the violators.
“The FIA Cost Cap Administration is currently determining the appropriate course of action to be taken under the Financial Regulations with respect to Aston Martin and Red Bull and further information will be communicated in compliance with the Regulations”, the statement from FIA further elaborated.
A $145 million budget cap was introduced in Formula 1 in 2021 following a unanimous approval from the competitors.
FIA’s intent was to ensure a level playing field for the teams and prevent big guns like Red Bull, Mercedes, and Ferrari from using their financial prowesses to clamp down the fellow runners in the competition.
The budget cap for the ongoing season is set at $140 million, which will be further reduced to $135 million in 2023.
ALSO READ: Max Verstappen wins rain-hit Japanese GP, crowned world champion amid last-lap drama
