Williams fined $25,000 for a breach of Formula 1’s cost cap regulation

The team missed the 31 March 2022 deadline to submit its 2021 accounts and are the first to be punished under the cap since its introduction last year. The cap has been reduced to $140m this year from $145m (£114m) in 2021. The cost cap was created to limit how much an F1 team can spend during a calendar year in order to compete. The development comes as teams fight for an increase in the cost cap this season, which will go down again to $135m in 2023. However, other teams have rejected the idea, with Alpine arguing that those struggling to meet the cap should simply spend less money on development.

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