Formula 1: Red Bull fined – After admitting to breaching the F1 cost cap, the FIA have finally sanctioned the world champions. After weeks of speculation, Red Bull have been clapped with a $ 7 million fine and a wind tunnel penalty applicable next season. The punishments were announced before the Mexican GP this weekend, after reaching an accepted breach agreement (ABA). Follow Mexican GP LIVE and FOrmula 1 LIVE updates on Insidesport.IN
Also Read: Mexican Grand Prix: F1 driver Lance Stroll handed three-place grid penalty for Mexican GP
Formula 1: World Champions Red Bull SANCTIONED $7million fine for BREACHING F1 cost cap, face 10% wind tunnel penalty – Check out
The ABA meant Red Bull had to admit their wrongdoing – with the team $2.2m over the cap – but crucially brought with it an end to an F1 saga and less severe punishments. The FIA acknowledged if a tax credit had been correctly applied Red Bull would have only been $0.5m over. Red Bull have received both a financial and a minor sporting penalty, with a 10 per cent reduction in wind tunnel time over the next 12 months most damaging.
BREAKING: Red Bull Racing issued with financial and sporting sanctions for breaching the 2021 budget cap pic.twitter.com/gqtGrRiWwB
— Formula 1 (@F1) October 28, 2022
“There is no accusation or evidence that Red Bull has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration,” read an FIA statement.
The reigning world champions were first accused of a minor breach on October 10 under F1’s new 2021 cost cap. The team had been in discussions with the FIA since with an overspend of less than five per cent [$7.25m] estimated. The breach has lead to accusations of cheating, with McLaren boss Zak Brown having protested their innocence throughout
Formula 1: World Champions Red Bull SANCTIONED $7million fine for BREACHING F1 cost cap, face 10% wind tunnel penalty – Check out
Red Bull’s Max Verstappen won the drivers’ title last year and retained it this month. The FIA announced on Oct. 10 that Red Bull had committed a ‘minor overspend’ of the $145-million cap in 2021, without giving details. Media reports have given a figure of $1.8 million.
Red Bull team boss Christian Horner told reporters at last weekend’s U.S. Grand Prix in Austin, Texas, that an ABA had been proposed by the FIA. The deadline was extended due to the death of team owner and Red Bull co-founder Dietrich Mateschitz with talks picking up again this week. Horner promised in Austin that there would be full transparency once the matter was settled.
Formula 1: World Champions Red Bull SANCTIONED $7million fine for BREACHING F1 cost cap, face 10% wind tunnel penalty – Check out
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