In a press release, the International Automobile Federation announced the agreement reached with the Formula 1 team and its sanctions.
Finally, the team Formula 1 Red Bull Racing was punished by FIA with $7 million and a 10 percent cap on air tunnel use, for exceeding the 2021 cost cap, but clarified that “there is no allegation or evidence that RBR at any time attempted to act in bad faith, dishonestly or fraudulently, or intentionally failed to any information from the Expenditure Limitation Authority”.
The International Automobile Federation announced the agreement reached with the team in a press release Formula 1 and its sanctions.
“RBR must pay a financial penalty of $7 million to the FIA within 30 days of the execution date of the ABA (Article 9.5 of the Financial Regulations),” the statement said.
“RBR receives a minor sporting penalty in the form of a restriction on RBR’s ability to perform aerodynamic tests for a period of 12 months from the date of execution of the ABA by applying a 10% reduction in the coefficient C used to calculate the individual restrictions Restricted Wind Tunnel Tests (RWTT) and Restricted computational fluid dynamics (RCFD) applicable to each team, as set out in Article 6 of Appendix 7 of the FIA Sporting Regulations for Formula 1. For example, if the coefficient C, based on RBR’s position in the championship, is 70%, the new effective value of C will be CNEW=70% x (10,10) = 63.0%; and shall bear the costs of the Cost Limitation Board in connection with the preparation of the ABA,” the report reads verbatim.
According to FIA there was no bad intention Red bull that he had a limit, like other teams, of 145 million dollars.
“Red Bull Racing was found to be non-compliant, however, the Cost Cap Administration acknowledges that Red Bull Racing acted cooperatively during the review process and attempted to provide additional information and evidence when requested in a timely manner. , that this is the first year of full application of the Financial Regulations and that there is no allegation or evidence that RBR at any time attempted to act in bad faith, dishonestly or fraudulently, or intentionally withheld any information from the Cap Costs Authority”.
It was thus concluded that Red bull excluded and/or incorrectly reconciled costs totaling £5,607,000
“The relevant costs that RBR presented in its documentation for 2021 amounted to 114 million 293 thousand pounds.
Consequently, a minor overspending offense committed by the RBR under Article 8.10(b) of the Financial Regulations, as its relevant costs, as adjusted by the FIA, exceeded the 2021 cost cap of £118.36m by less than 5% , more precisely for 1 million 864 thousand pounds sterling (that is, .6%)”.
for his part, Aston Martin He was fined $450,000 for filing his 2021 return with accounting errors.