FIA delays F1 budget cap verdicts until next Monday



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FIA delays F1 budget cap verdicts until next Monday

FIA, the governing body of Formula One championship, issued a statement late on Wednesday saying that it would not unveil the findings of F1 teams’ last season's spending until next Monday, as whispers are loudening on whether Red Bull and Aston Martin overspent last season.

In the matter of the fact, latest remarks from FIA came against the backdrop of a clutch of conflicting narratives on whether Red Bull and Aston Martin had breached their budget caps last season. In order to promote competitiveness in Formula One events, FIA had introduced a budget cap of $145 million last year, while the figure was reduced further to $140 million this season.

If Red Bull and Aston Martin had overspent last season, the issue could be serious which in effect could witness a wide array of punitive measures for Aston Martin and Red Bull ranging from a financial penalty to a ban from the championship.

FIA delays 2021 F1 teams’ spending verdict

On top of that, as FIA delayed its verdict on F1 teams’ expenses on 2021, a breach of budget cap from Red Bull F1 team could even lead to a suspension of the team from the current season, which in effect would jeopardize the title race for Max Verstappen, who has been close to winning an F1 double as early as on this weekend’s Japan Grand Prix.

Meanwhile, FIA said in a statement released late on Wednesday, “The analysis of financial submissions is a long and complex process that is ongoing and will be concluded to enable the release of the Certificates on Monday, 10 October.

The Financial Regulations were agreed unanimously by all Competitors, who have worked positively and collaboratively with the FIA Cost Cap Administration throughout this first year under the Financial Regulations”.