LONDON — Formula 1 world champion Max Verstappen’s Red Bull team has breached last year’s cost caps with a “slight overspending”, the ruling FIA said in a statement on Monday.
The team, which will win both titles in 2022 after Verstappen clinched his second drivers’ title in Japan on Sunday, also flouted procedure and risked a fine and unspecified “minor sporting penalties”.
The FIA reported that Aston Martin, owned by Canadian billionaire Lawrence Stroll, allegedly committed a procedural violation.
“The FIA Cost Cap Administration is currently determining the appropriate course of action to be taken under financial regulations in relation to Aston Martin and Red Bull,” it said in a statement.
Violations can result in a range of penalties, from reprimands and fines to the deduction of championship points and even disqualification from the championship in the event of significant overspending.
Red Bull noted the results “with surprise and disappointment”.
They said their 2021 submission was below the cost cap and they would consider all options while following the FIA process.
“We need to carefully review the FIA’s findings as we remain satisfied that the relevant costs are below the 2021 cost cap,” they added.
A SETTLEMENT
The FIA said a breach of procedure or minor overspending of less than 5 per cent of the cost cap could be remedied with a settlement.
“If no agreement can be reached, or if the Cost Cap Administration deems it more appropriate, it may refer the case to the Cost Cap Adjudication Panel,” it added.
After reviewing the documentation submitted by each of the 10 participants, Certificates of Conformity were issued to seven teams.
The rules were introduced last year to curb runaway spending and level the playing field, with the cap being reduced from $145 million to $140 million this year. In the next season it should be 135 million US dollars.
Williams complied with the regulations, except for a previously reported procedural violation, which was settled in May of this year with a $25,000 fine.
Monday’s announcement came after widespread speculation in the Formula 1 paddock that one or more teams had spent more than allowed, in one case potentially much more.
Mercedes and Ferrari, Red Bull’s main rivals, had both said any breach would bring benefits this season and next, and the impact was huge and needed to be addressed.
The issuance of certificates had been repeatedly delayed, most recently since last week.