The FIA has announced Red Bull’s penalty for violating Formula 1’s Financial Regulations during the 2021 season.
The sport’s governing body announced on Friday it has entered into a Accepted Breach Agreement with the team as defined in the Financial Regulations. Red Bull has been fined $7 million (£6.059m) and will have a 10% reduction in its restricted wind tunnel and computational fluid dynamics development time during 2023.
The FIA confirmed Red Bull exceeded the cost cap, calculated at £118.036m for 2021, by £1.864m, which is 1.6%. It was therefore found to have committed a “minor” overspend, which the regulations define as being less than 5%.
Red Bull incorrectly excluded 13 separate items from the costs it submitted for the 2021 season, with a total value of £5.607m, the FIA noted.
However the FIA stated “there is no accusation or evidence that RBR [Red Bull Racing] has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration.”
Red Bull’s “minor” over-sped was announced by the FIA on October 10th. It is the only team which has been found to have exceeded the cap, which was introduced for the first time last year.
Red Bull has until 30 days of the decision to pay its fine.
The team finished second in the 2021 constructors championship behind Mercedes. Red Bull’s Max Verstappen won the drivers’ championship ahead of Lewis Hamilton.
FIA statement on Red Bull’s budget cap penalty
Following the submission of all required documentation by all ten Formula One Teams, the Cost Cap Administration carried out the first ever Review process under the FIA Formula One World Championship Financial Regulations. These new Financial Regulations are a very complex set of rules that competitors were required to adapt to for the first time.
Red Bull Racing was found to be in breach, however, the Cost Cap Administration recognised that Red Bull Racing has acted cooperatively throughout the review process and has sought to provide additional information and evidence when requested in a timely manner, that this is the first year of the full application of the Financial Regulations and that there is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration.
In these circumstances, the Cost Cap Administration offered to…
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