Red Bull have won the 2022 constructors’ title (Photo: Getty)
Red Bull have been fined $7million (£6m) and handed a 10% reduction in their car development time for breaching the Formula One budget cap.
Earlier in October, the FIA confirmed reports that Red Bull had committed a ‘minor’ breach of the 2021 cost cap, prompting outrage amongst their rivals.
While the team continued to deny any wrongdoing, the FIA announced on Friday that Red Bull had entered an Accepted Breach Agreement (ABA) with the sport’s governing body.
A statement read: ‘The Cost Cap Administration recognised that RBR [Red Bull Racing] has acted cooperatively throughout the review process.
‘There is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration.’
In the statement, the FIA finally revealed that the amount that Red Bull had overspent by was £1.8m, roughly 1.6% of the £118m budget that all other teams abided by.
A ‘minor’ breach of the budget is defined as less than a 5% overspend.
Max Verstappen sealed his second F1 title earlier this season (Photo: Getty)
They did however acknowledge that had Red Bull taken a tax subsidy that they were entitled to they would have only overspent by around £400,000 or 0.37%.
With all this considered, the 2022 champions have been fined £6m and will have the wind tunnel testing time reduced by 10% for next season.
This is not as severe as other teams had been calling for, with the FIA choosing not to deduct points or reduce Red Bull’s budget cap for 2023.
The FIA also added that the ABA ‘constitutes its final decision resolving this matter and is not subject to appeal’.
More to follow…
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Red Bull’s punishment has been revealed.