After weeks of speculation and intrigue, the results of the FIA’s investigations into the FIA Formula 1 World Championship budget cap for the 2021 season have been released, and Oracle Red Bull Racing have been found guilty of exceeding the maximum spending allowed.
Red Bull have been found to have overspent by less than five per cent of the allowed $145 million budget, meaning it has committed a minor breach, while they have also found guilty of a Procedural Breach, as have the Aston Martin Aramco Cognizant F1 Team.
The rumours of major overspending have been dismissed, but the punishments for the two teams have yet to be determined, and it could result in some kind of financial penalty or even points deductions, which theoretically could see Max Verstappen concede last years’ Drivers’ title to Lewis Hamilton, although this is thought to be unrealistic.
“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,” read the statement from the FIA. “The FIA Cost Cap Administration notes that all Competitors acted at all times in a spirit of good faith and cooperation throughout the process.
“The FIA would also note that with respect to this first year of the application of the Financial Regulations the intervention of the FIA Cost Cap Administration has been limited to reviewing the submissions made by the Competitors and that no full formal investigations were launched.
“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.”
Williams Racing had been found guilty of a procedural breach earlier in the year after failing to submit their information in a timely manner, and this saw the team dealt with a $25,000 fine.
