In 2021, F1 introduced budget cap regulations. It came into effect to curb excessive spending by teams and promote financial stability and competitiveness across the grid. Under the regulations, teams are required to adhere to a set spending limit, which is closely monitored by the FIA. The cap is designed to ensure that teams with varying budgets can still compete on an equal footing. It will make the sport more competitive and exciting for fans.
In the implementation year itself, Red Bull Racing was found guilty of surpassing the cap by nearly $2 million. The team clarified that they overspent on catering for the staff during race weekends. However, the pled was seemingly dismissed as FIA handed out a $7 million fine and a 10% reduction of wind tunnel time. While it certainly did not hinder Red Bull’s growth, the FIA even failed to set up a proper example.
3 Teams Reportedly Have Failed To Comply With Cost Cap Regulation In 2022
In a shocking development for the Formula 1 community, reports have emerged of three F1 teams being under scrutiny for allegedly breaching the cost cap regulations during the 2022 season. FIA, the official governing body of the sport, issue a compliance certificate to each team if they pass the budget cap compliance check. However, the rumors have it that as many as three F1 teams are not likely to receive the green light. The Italian branch of Motorsport.com has come forward with this unverified report. So far, F1 has stayed away from commenting on these rumors.
Meanwhile, the names of the teams under investigation have not been officially disclosed so far. The F1 governing body will likely release an official statement once the investigation process comes to an end. Having said that, fans have already begun making theories. Their hot pick remains Red Bull Racing, as they already violated the regulation once. Moreover, the team’s machinery, RB19, looks like an expensive piece of work. However, these remain just rumors for now. An official word from FIA should come before or during the upcoming Summer Break. Meanwhile, F1 CEO has threatened to imply stricter sanctions following the recent rumors of alleged breaches by as many as three teams.
F1 CEO In Favor Of Sporting Sanctions For Cost Cap Violators
With reports of three teams allegedly breaching cost cap regulation in the 2022 season, F1 CEO has called for stricter punishment. Stefano Domenicali explained that there exist three types of regulation in F1. They are the sporting regulations, the technical regulations, and the financial regulations. However, he feels that financial sanctions will not help in keeping the team from surpassing the budget cap. Introducing sporting sanctions remains the need of the hour.
Many rivals previously raised their voice against financial regulation. They believe that it does not affect the violating team at all. Red Bull Racing’s car development has stayed the same despite a $7 million financial punishment. Hence, if three teams are proven guilty, stricter regulation could seemingly come into effect. As the investigation progresses, fans await the FIA’s official statement. It will shed more light on the extent of the alleged violations and the potential impact on the sport.
