FIA delay 2021 budget cap report and dismiss ‘baseless’ rumours

Henry Valantine
Charles Leclerc's Ferrari ahead of the two Red Bull cars on the grid. Paul Ricard FIA July 2022.

The FIA will no longer be publishing its 2021 cost cap report on Wednesday, now saying its public release will now take place on Monday 10 October.

Financial audits have been submitted by the teams for the 2021 season, the first year in which Formula 1’s budget cap has taken effect, and certificates of compliance had been due to be published on Wednesday, but this will not be the case, as the sport’s governing body confirmed.

They also quashed “baseless” thoughts about FIA staff leaking teams’ financial details publicly, and will not comment on any speculation surrounding the reports to come.

A statement from the FIA said: “The FIA informs that the conclusion of the analysis of the 2021 financial submissions of the Formula 1 teams and the subsequent release of Certificates of Compliance to the Financial Regulations will not take place on Wednesday, 5 October.

“The analysis of financial submissions is a long and complex process that is ongoing and will be concluded to enable the release of the Certificates on Monday, 10 October.

“The Financial Regulations were agreed unanimously by all Competitors, who have worked positively and collaboratively with the FIA Cost Cap Administration throughout this first year under the Financial Regulations.”

Within its statement, they once again confirmed its stance on speculation surrounding any overspending from teams, and they will not be providing further comment on any budget reports until their publication – now slated for Monday.

“As previously communicated, there has been significant and unsubstantiated speculation and conjecture in relation to this matter, and the FIA reiterates that until it is finalised, no further information will be provided,” the statement continued.

“The FIA also reiterates that any suggestion that FIA personnel have disclosed sensitive information is equally baseless.”

The teams had been required to adhere to an overall $145m budget for the whole of 2021 as Formula 1 looks to become more financially sustainable for the teams, while levelling the playing field in limiting the amount of resources teams can use.

The FIA holds multiple options for punishing teams who are found to be in breach of the cost cap, which are detailed in our full guide to Formula 1’s budget cap penalty regulations.

Read more: FIA in a no-win situation, regardless of F1 cost cap rumours