During the last 2022 Formula 1 Singapore Grand Prix, a series of rumors emerged that claimed that one or two teams had exceeded the Formula 1 budget limit for the 2021 season, the first with said financial regulations in force.
In its first year in operation, the cost ceiling for the top category motorsport teams was stipulated at 145 million dollars (about 130M euros), an amount that would decrease as the seasons progressed, with the sole objective to match the competitiveness of the grill and ensure the economic future of all structures.
Accusing fingers from the paddock at Marina Bay pointed at two main teams, Red Bull and Aston Martin, although rumors were much more focused on the energy drink team. Some speculation claimed that the Austrians had exceeded the maximum budget by more than 5%, which is considered a serious excess.
Initially, the FIA’s resolution to report on which teams had or had not met the 2021 cost cap should have come in July, but the International Automobile Federation (FIA) delayed it until September, then until 5 December. October and finally until today, October 10, 2022.
Through an official statement, the FIA confirmed that seven of the ten teams on the grid had received the certificate of compliance, with the exception of Red Bull, Aston Martin and Williams .
Red Bull broke the cost limit, while the other two teams committed minor infractions.
FIA ruling on F1 2021 cost cap:
- Red Bull exceeded Formula 1’s budget cap for last season, committing a cost and procedural violation.
- As for Williams, the FIA explained that it was due to a late submission of their accounts from last year, which is why the team was fined.
- On the part of Aston Martin, it was considered that they had committed a procedural violation of the rules.
The FIA statement did not elaborate on how breaches of the rules by Aston Martin and Red Bull will be handled: “The FIA Cost Limit Administration is currently determining the appropriate actions to be taken under the Regulations. Financial regarding Aston Martin and Red Bull.”
During the last weeks, and even months, many team managers had spoken about it, asking for a firm hand from the governing body of F1. Failure to comply with the financial regulations could have a great repercussion, not only for that season, but also for the following year, which is why Mattia Binotto, boss of Ferrari, was very insistent throughout the year.
Although the FIA has not yet reported any sanction , looking at the regulations, there are two different ways to exceed the budget limit: exceeding 5% of the cost cap, that is, a serious violation, or not reaching that 5%, which which would entail a minor violation, with less damaging punishments.
- Slight excess (less than 5%): public reprimand, deduction of points in the manufacturers’ or even drivers’ classification, exclusion from some events, adding some extra restrictions in the aerodynamic tests or an economic fine.
- Serious excess (greater than 5%): deduction of more points in the drivers’ or constructors’ championship, exclusion from events or even from the championship, severely limiting aerodynamic tests or a future reduction of the same cost cap.