FIA issue official statement as TWO teams guilty of cost cap breach

The FIA have confirmed that two teams have been found guilty for breaching cost cap regulations.

The cap is in place to minimise disparity between teams at both ends of the financial spectrum, thus in theory, increasing racing competitiveness.

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By limiting the amount of money each squad can spend in a calendar year, motorsport bosses aim to ensure the long-term sustainability of each series' participants.

An FIA statement has now confirmed that two teams competing in Formula E have breached guidelines, as it outlined the nature of the respective offences and revealed the punishments which have been handed out.

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Which teams breached the cost cap?

Nissan Formula E Team has been fined €300,000 for its 2 per cent (£269,252) breach, while Jaguar Racing Ltd>. was hit with a €100,000 penalty for a 0.6 per cent (£73,849) overspend.

In addition to receiving a heavy financial blow from the sport's governing body, both teams were given a sporting penalty courtesy of a half-day suspension which will be taken during the first session of pre-season testing in Valencia on November 4, 2024.

An FIA statement read: "The Cost Cap Administration recognised that the teams have acted cooperatively throughout the review process and have sought to provide additional information and evidence when requested in a timely manner.

"There is no accusation or evidence of aggravating factors or that they have sought at any time to act in bad faith, dishonestly or in fraudulent manner, and nor has it wilfully concealed any information from the Cost Cap Administration."

In response, Nissan said: "Nissan Formula E Team has since put in place all the necessary precautions to avoid these kinds of miscalculations and oversights in the future."

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