05 September 2023 , 10:42
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The FIA has confirmed that all 10 Formula 1 teams, including Red Bull, were in compliance with cost cap rules for last season.
Red Bull, champions in 2021, were found to have breached that season's budget cap by £1.8 million. As a consequence, they were hit with a punishment of a £6million fine and a 10 per cent reduction in wind tunnel time.
The saga angered rival bosses, with some calling the constructors' championship into question, whilst Red Bull avoided a retrospective reduction in points. Now the FIA have finished their investigation into the financial numbers of last season, that was also won by Red Bull, and this time, it has been revealed that all teams have complied with the guidelines.
A statement from the FIA on Tuesday morning read: "The FIA confirms that its Cost Cap Administration has now completed the review of the Reporting Documentation submitted by each Competitor that participated in the 2022 FIA Formula One World Championship in respect of the 2022 Full Year Reporting Period ending on 31 December 2022.
"The FIA Cost Cap Administration has issued certificates of compliance to all of the ten Competitors. The review has been an intensive and thorough process, beginning with a detailed analysis of the documentation submitted by the competitors.
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"Additionally, there has been an extensive check of any non-F1 activities undertaken by the teams, which comprised multiple on-site visits to team facilities and careful auditing procedures to assess compliance with the Financial Regulations. The FIA Cost Cap Administration notes that all Competitors acted at all times in a spirit of good faith and cooperation throughout the process.
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"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 in terms of the regulations themselves, which are written and approved under the FIA Formula 1 governance process, and the way in which they are enforced and policed. The FIA has made and will continue to make significant investments in this department for the collective benefit of the sport."
The news will be of relief to Red Bull after the controversy surrounding their 2021 title win, spearheaded by Dutch driver Max Verstappen. He has continued to be a dominant figure in Formula 1 since then.
He was dominant last term to cruise to another victory, whilst he seems well on his way to yet another title. His victory at Monza over the weekend saw him make it a record-breaking 10 race wins in a row.
Verstappen sits at the top of the driver standings on 364 points, whilst Red Bull lead the constructors' table on 583 points.