Red Bull has reached an agreement with the International Automobile Federation (FIA), after breaching the 2021 financial regulations, for which it must pay a fine of 7 million euros (about 6.9 million dollars), according to informed the governing body of Formula 1.
FIA confirms Red Bull Racing exceeded Formula 1 budget limit in 2021
For the first time in F1 history, all ten teams were required to submit accounts of your annual expenses with respect to the cost limit for 2021 before the following March. This Friday the FIA announced in Mexico that Red Bull had breached it.
The FIA notes that Red Bull Racing “has acted cooperatively throughout the review process and has sought 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 the team has at any time sought to act in bad faith, dishonestly or fraudulently, nor has it deliberately withheld any information from the Cost Limit Administration.
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The FIA notes that Red Bull exceeded the 2021 Cost Limit of £118,036,000 by less than 5% (£1,864,000 or 1.6%), “which is a minor offence”.
For all this, Red Bull must pay a fine of 7 million dollars to the FIA within 30 days from the date of execution of the infringement agreement.
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You will also receive a minor sporting penalty in the form of a 10% reduction in your allotted limits wind tunnel tests and computational fluid dynamics.
These decisions are not subject to appeal. (D)
Source: Eluniverso
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