The FIA has confirmed that none of the 10 Formula 1 teams exceeded the £108 million cost cap limit during the 2022 season. Red Bull and Aston Martin faced penalties last year for offenses related to the 2021 season.
All 10 Formula 1 teams have received compliance certificates for adhering to the budget cap implemented last season.
Red Bull and Aston Martin faced financial penalties in Formula 1 due to rule violations. Red Bull was fined £6m for overspending by £1.86m in 2021, while Aston Martin received a fine of £388,000 for a procedural breach.
The FIA has confirmed that no team breached the £108m cost cap limit in 2022, despite rumors suggesting otherwise in the paddock.
“The FIA confirms that its Cost Cap Administration has now completed the review of the Reporting Documentation submitted by each Competitor that participated in the 2022 FIA Formula One World Championship in respect of the 2022 Full Year Reporting Period ending on December 31 2022,” a statement from the federation read.
“The FIA Cost Cap Administration has issued certificates of compliance to all of the 10 Competitors.
“The review has been an intensive and thorough process, beginning with a detailed analysis of the documentation submitted by the competitors.”
Teams have missed the deadline to appeal the FIA’s verdict. The FIA had a complaints process and whistleblower service available, but neither were utilized.
The FIA also revealed it found no wrongdoing with teams possibly hiding costs through organisations outside of F1.
“Additionally, there has been an extensive check of any non-F1 activities undertaken by the teams, which comprised multiple on-site visits to team facilities and careful auditing procedures to assess compliance with the Financial Regulations,” the statement read.
“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 determined that Red Bull did not act dishonestly or fraudulently when they exceeded the budget cap in the 2021 season as Max Verstappen triumphed over Lewis Hamilton for the world championship.
Red Bull Racing has entered into an Accepted Breach Agreement with F1’s governing body, resulting in a fine and a reduction in wind tunnel time.
Aston Martin was fined for inaccurately excluding and adjusting costs in the calculation of its relevant costs.
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