What do George Clooney and Julia Roberts think about rom-coms?: They reveal it all to Ali Plumb.That was the end of 2006 after Red Bull became dissatisfied with their previous supplier, Ferrari.Unravelling the £1bn savings scandal: Panorama investigates failed investment schemes affecting ordinary British savers.Mercedes F1 team principal Toto Wolff has also called for transparency about the process that was used to arrive at the assessment of any offence. I am expecting full transparency and clarity on the discussions they have had." "$5m is about half a second, $1-2m is 0.1-0.2secs, which can be the difference between second on the grid to pole. Our car has been developed respecting the budget cap and we know how much even a minor breach would have implied in performance. If the team is still not happy after that, it can take its case to the FIA's international court of appeal.Īston Martin did not comment, but their position is understood to be that they spent less than the total amount of the budget cap in 2021 and regret their breach, which centred on administrative protocols that reflect what they consider a complex regulatory interpretation.įerrari team principal Mattia Binotto said on Sunday that even a so-called 'minor' breach was a significant offence, and detailed the value of an overspend to a team's competitiveness.īinotto said: "If there is a breach, the penalty has to be significant. If a settlement agreement cannot be reached, the dispute will go to an adjudication panel of independent judges, who will look at the case and come to the conclusion whether the offence should be penalised. In this scenario, a team accepts its guilt and the FIA imposes a penalty it deems appropriate. In addition to the potential of an appeal, Red Bull also have the opportunity to enter into a 'settlement agreement' with the FIA. Anything other than compliance we'll be extremely surprised at." We wait for the FIA to conclude their process and we wait to see what comes out. "So we've been shocked at the speculation and accusations that have been made by other teams. "We're very confident we're within the cap and within those financial regulations," Horner told BBC Radio 4's Today programme. Williams were also found guilty of this and fined $25,000 earlier this year.Įarlier on Monday, Red Bull team principal Christian Horner repeated his belief that the team were under the cap in 2021, a season in which Red Bull driver Max Verstappen won a close championship fight with Mercedes driver Lewis Hamilton in controversial circumstances at the final race of the year. The FIA statement added: "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."Ī procedural breach is not an overspend, but rather a failure to fill in forms correctly. Potential penalties for a 'minor' breach include: a reprimand deduction of drivers' and/or constructors' championship points for the season in question suspension from one or more stages of a competition limitations on aerodynamic or other testing and a reduction of the team's cost cap. "Despite the conjecture and positioning of others, there is of course a process under the regulations with the FIA which we will respectfully follow while we consider all the options available to us."īoth teams have the possibility of appealing against the decision. The team added: "Our 2021 submission was below the cost-cap limit, so we need to carefully review the FIA's findings, as our belief remains that the relevant costs are under the 2021 cost-cap amount. Red Bull said in a statement that they noted the FIA's findings "with surprise and disappointment". It said it was "currently determining appropriate action". The FIA did not reveal the amount by which Red Bull exceeded the cap, how it had done so, or what penalties would be applied. This means the team exceeded the cap by less than 5%, or $7.25m.īoth Red Bull and Aston Martin were also found guilty of a procedural breach of the cap.
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