Red Bull Racing driver Max Verstappen takes part in the Formula 1 Japanese GP on October 9, 2022.© AFP
Red Bull and Aston Martin have found a violation of Formula 1’s financial rules, the motorsport association (FIA) announced on Monday and said a punishment would be decided at a later date. The FIA said a review of the teams found that Red Bull, home of world champion Max Verstappen, are “considered procedural and minor overspending breaches of financial regulations”, while Aston Martin are “considered procedural breaches of financial regulations”. The FIA said it was “currently determining the appropriate course of action”.
A “minor overspending,” the statement said, amounts to less than 5 percent of a team’s overall cap and may “result in financial penalties and/or minor athletic penalties.”
The FIA said its “Cost Cap Administration” had completed a review of financial records submitted by each team for 2021 and “issued seven of the ten certificates of compliance”.
The third exception was Williams, where there had been an issue with “a previous procedural violation” that the team “remedied” in a “timely, cooperative and transparent manner.”
The statement stressed that the FIA had confined itself to “examining the submissions of competitors and no full formal investigations were opened” as the reporting season was the first with a cost cap.
The statement said the first option for the Cost Cap Administration is to reach an agreement with the team involved.
The cost cap is intended to limit spending to make the sport viable and also close the competitive gap between teams.
The statement added that “the regulations are very complex and reflect the complexity of the sport as a whole”.
It also said all teams “acted in a spirit of good faith and collaboration at all times throughout the process.”
(This story was not edited by NDTV staff and is auto-generated from a syndicated feed.)
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