Today is the day that 'compliance certificates' with the 2021 cost cap are set to be handed out to the F1 teams. The finger has been pointed at Red Bull and Aston Martin for alleged overspends.
What will FIA’s budget cap verdicts reveal about F1 team’s 2021 spend?The FIA are expected to sign off on all of the F1 team’s expenditure for 2021, as rumours circulate about budget cap overspending.
In March 2022, all of the F1 teams were required to submit their accounts, as well as supporting documentation, to the FIA’s Cost Cap Administration . These accounts are then carefully pored through by these financial experts, in order to ensure that all 10 F1 teams adhered to the rulebook. However, heading into the Singapore Grand Prix weekend, the rumour mill exploded as two teams have allegedly overspent in their 2021 budgets.
“[It’s a] massively heavyweight [issue],” Wolff told Sky F1 in Singapore, revealing that it’s an ‘open secret’ that a team has overspent by a large amount, although rumours since then have suggested no ‘major breaches’ have been found. Horner has denied that there has been any overspending from Red Bull, but there has been some telling statements from him that suggest overspend, even potentially just minor, could have occurred inadvertently.
“Of course, in that first year, there’s inevitably going to be a huge amount of lessons, both for the FIA and inevitably for the teams as well.”to essentially tell everyone to ‘sit tight and wait’ until Wednesday, Horner continued on to say that clarifications regarding the cost cap have been made by the governing body even since the teams submitted their accounts back in March.
“The submission between the team and the FIA is one that is confidential. I have no idea what the outcome of our rival submissions are, or their accounting treatment, or so on. Which teams, if any, have exceeded the cost cap for 2021? If they have, how much have they exceeded it by? Will Horner be vindicated in his outrage, or will the FIA documentation show that Red Bull haven’t obeyed the financial regulations?
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