The sport’s governing body has concluded its assessments of all the Formula One teams’ budget submissions for last season and found, as was alleged at last week’s Singapore Grand Prix, that Red Bull had committed what it referred to as a “minor breach” of the stipulated $145m (£127m) ceiling. “The FIA would also note that with respect to this first year of the application of the financial regulations the intervention of the FIA cost cap administration has been limited to reviewing the submissions made by the competitors and that no full formal investigations were launched. “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.”. 2021 was the first year the budget cap has been used in the sport. Responding to the FIA’s verdict, Red Bull said in a statement: “We note the findings by the FIA of ‘minor overspend breaches of the financial regulations’ with surprise and disappointment.
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