- Formula One punished Red Bull for breaching the budget limit
- Red Bull has attributed their overspending on a variety of services to a clerical error on their part
- The F1 spending limit was established to stop well-funded teams from outspending less well-funded constructors
Red Bull has been penalized by the regulatory body of Formula One for exceeding the allowed spending limit for the sport during the 2021 season in which Max Verstappen won the championship.
Red Bull and the FIA came to an agreement on a fine of $7 million (7.04 million euros) and a reduction of 10% in the amount of time spent on aerodynamic research over the course of the next year.
The builder based in the UK now has thirty days to pay the fine, and they are also responsible for covering the costs of the investigation.
The Federation Internationale de l’Automobile (FIA) discovered that Red Bull had exceeded its spending limits for the year 2021 by a total of $1.8 million (€1.81 million), but the organization stated that “there is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it willfully concealed any information from the Cost Cap Administration.”
Red Bull has attributed their overspending on a variety of services to a clerical error on their part.
Those who had asked for severe punishments, such as stripping Verstappen of last year’s title or limiting Red Bull’s future investment, are unlikely to be pleased with the sanctions issued on Friday.
The F1 spending limit was established to stop well-funded teams from outspending less well-funded constructors.
With three races left in the season, Verstappen and Red Bull have already won the manufacturers’ championship and a second F1 championship.
After a contentious Abu Dhabi Grand Prix conclusion in which former race director Michael Masi altered the rules to permit the Dutch driver to overtake Mercedes’ Lewis Hamilton on the final lap, Verstappen won his maiden championship in 2021.
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