Last October, the announcement caused a stir. For having exceeded the budget cap introduced in 2021, the Red Bull team had been fined $ 7 million and a limitation of its wind tunnel tests (10% reduction).
To a lesser extent, the Aston Martin and Williams teams had also been pinned, but not for exceeding said ceiling. The two British teams had been subject to a lighter financial sanction for having breached an administrative part of the regulations.
Compliance with a cap of $140 million
As a reminder, the Financial Regulations were introduced at the start of the 2021 season, with the aim of ensuring a certain cost control. A priori, it must guarantee the sustainability of the discipline by allowing the most modest structures to better compete, financially, with those which are very richly endowed.
One year after the discrepancies of Red Bull, Aston Martin and Williams, the FIA has just revealed the results of the compliance of the teams with the Financial Regulations for the 2022 season. This time, nothing to report, since it appears that the 10 teams on the board have respected the ceiling set at 140 million dollars.
The FIA statement:
“The review was an intensive and thorough process, beginning with a detailed analysis of the documentation submitted by competitors. In addition, all non-F1 related activities undertaken by the teams have been thoroughly vetted, including multiple on-site visits to team facilities and thorough audit procedures to assess compliance with the regulations. financial. The FIA Cost Cap Administration notes that all competitors acted at all times in a spirit of good faith and cooperation throughout the process. The FIA also notes that the Financial Regulations are essential to the long-term financial stability of the sport, and that they will continue to be developed and refined based on the findings of each review process, both at the level of the regulations themselves, which is drafted and approved within the governance process of the FIA and Formula 1, than how it is applied and monitored. The FIA has made and will continue to make significant investments in this department for the collective benefit of the sport and will continue to do so.”
To sum up
Last year, the Austrian team was sanctioned for not having respected the budget ceiling put in place for the 2021 financial year. The FIA has just communicated the financial analysis of the 10 teams on the board for the 2022 season.