PARIS – Formula One team Red Bull was found to have breached budget regulations last season, with the sport's governing body saying Monday it was guilty of “minor” overspending.
The FIA announced the verdict of its investigation into whether some F1 teams had violated the spending regulations in 2021, when Red Bull driver Max Verstappen won his first title on the last lap of the last race. Verstappen clinched his second straight title at the Japanese Grand Prix on Sunday.
The governing body said Red Bull was “considered to be in procedural and minor overspend breaches of the financial regulations” in 2021, but that any sanctions would be announced at a later date. Going over the budget cap by less than 5% is considered a minor breach.
Aston Martin was also considered to be in breach of the regulations.
“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 body said in a statement.
F1 introduced a budget cap of $145 million last year with the aim of creating a more level playing field in F1 and to reduce the spending might of powerhouses like Mercedes, Ferrari and Red Bull.
It was scaled down to $140 million for 2022 and drops to $135 million for 2023, excluding driver salaries and engine costs.
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