FIA set record straight with firm statement after budget cap breach rumours

Thomas Maher
FIA logo lit up at Mexican Grand Prix. Mexico City 2021

FIA logo lit up at Mexican Grand Prix. Mexico City 2021

The FIA has sought to quell recent rumours and have issued a statement clarifying their ongoing investigations into the team’s compliance with the F1 budget cap.

Rumours that as many as three F1 teams breached the 2022 Financial Regulations are wide of the mark, according to the FIA.

The sport’s governing body is currently going through the process of auditing all 10 of the F1 teams to ensure they have conformed to the strict budget cap limit of $135 million for their entire car-related season spend.

FIA: Reports of breaches are ‘completely unfounded’

The build-up to the Hungarian Grand Prix saw rumours abound that three teams could have breached the budget cap limit for the 2022 season.

Last year, the FIA’s audits of the 2021 season found that Red Bull had exceeded the budget cap of $140 million in the first year of the Financial Regulations applying to the sport, with the team slapped with a $7 million fine as a result, as well as being stripped of an additional 10 percent wind tunnel development time.

Red Bull and Mercedes are both amongst the rumoured names in the reports from other media sources, but the FIA say the process of investigating each team is far from complete and that such rumours are unfounded. recommends

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“In light of recent reporting, we’d like to reiterate the ongoing process preceding financial regulation certification for the teams – none of which have been informed of their certification status,” said an FIA spokesperson.

“The auditing fieldwork is still ongoing and is scheduled to conclude in the upcoming weeks, after which there will be a period required for the finalisation of the review.

“There is not, and has never been, a specific deadline for certification, and any suggestions of delays to this process or potential breaches are completely unfounded – the Cost Cap Administration will formally communicate its findings according to the procedure set out in the Financial Regulations.

“The timeframe is intentionally not fixed in order not to prejudice the robustness and the effectiveness of the review.”

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