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BREAKING: Red Bull confirmed to have breached budget cap

BREAKING: Red Bull confirmed to have breached budget cap

BREAKING: Red Bull confirmed to have breached budget cap

BREAKING: Red Bull confirmed to have breached budget cap

The FIA has confirmed Red Bull breached the budget cap for 2021.

For Red Bull, the confirmation of a cloud that had been hanging over the team since speculation first aired ahead of the recent Singapore Grand Prix, comes the day after Max Verstappen was crowned a two-time F1 champion.

Red Bull team principal Christian Horner had stated all along his team's submissions to the FIA were under the $145million limit set for last season.

But the FIA has now officially declared Red Bull breached the cap, although it has not said by how much.

GPFans understands the minor breach - less than five per cent of the cap [up to a maximum of $7.5m] - is no more than $2m.

Aston Martin, meanwhile, has only committed a procedural breach, which primarily relates to late or inaccurate filling of forms. Red Bull also did likewise.

With three teams committing breaches - Williams was confirmed as procedural earlier this year - the other seven in Mercedes, Ferrari, McLaren, Alpine, AlphaTauri, Alfa Romeo and Haas, have all been issued with certificates of compliance.

An FIA statement read: "The review of the reporting documentation submitted has been an intensive and thorough process, and all competitors gave their full support in providing the required information to assess their financial situation during this first year of the financial regulations.

"The FIA Cost Cap Administration notes that all competitors acted at all times in a spirit of good faith and co-operation throughout the process.

"The FIA would also note that with respect to this first year of the application of the financial regulations, the intervention of the FIA Cost Cap Administration has been limited to reviewing the submissions made by the competitors and that no full formal investigations were launched.

"The FIA Cost Cap Administration is currently determining the appropriate course of action to be taken under the financial regulations with respect to Aston Martin and Red Bull and further information will be communicated in compliance with the regulations."

In addition, with regard to a possible punishment, the FIA added: "The Cost Cap Administration has several options when dealing with an alleged breach of the financial regulations.

"It can enter, when deemed appropriate, into a settlement referred to as an Accepted Breach Agreement [ABA] with the competitor concerned in case of a procedural breach or minor overspend breach.

"Or, if no agreement can be reached or the Cost Cap Administration considers it more appropriate, it can refer the case to the Cost Cap Adjudication Panel.

"The Cost Cap Adjudication Panel comprises a panel of between six and 12 judges elected by the FIA General Assembly in accordance with the FIA Statutes from among the candidates proposed by either the FIA Sport Member Associations entitled to vote or a group of not less than five F1 Teams.

"Procedural Breaches can result in financial penalties and/or minor sporting penalties (in case of aggravating factors) as detailed in the Financial Regulation.

"Minor overspend breaches can result in financial penalties and/or minor sporting penalties."

GPFans understands the most likely punishment for Red Bull will be a heavy fine.

From Aston Martin's perspective, it has now been confirmed its expenditure was within the budget cap as per the regulations.

GPFans understands the team is deeply unhappy with the inaccurate reports that circulated prior to the FIA's findings, suggesting an overspend, which could now potentially be described as damaging.

It is further understood the procedural breach centred on a number of administrative accounting protocols as a result of variations in interpreting the complex regulations.

Nevertheless, it is believed there is deep regret within Aston Martin for its failure to fully comply with the cost cap regulations and for not receiving its certificate.

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