Will Max Verstappen lose his 2021 F1 title amid Red Bull’s ‘minor’ budget cap violation?
According to the FIA statement, the Red Bull F1 team has been considered to be in ‘Procedural and Minor overspend Breaches of the Financial Regulations.
Red Bull driver Max Verstappen secured his second F1 World Championship on Sunday after winning the Japanese Grand Prix. However, the celebrations were dampened by the news of the Red Bull F1 team being found guilty of ‘minor’ overspending. Earlier during the Singapore Grand Prix, the Red Bull team chief Christian Horner hit back at claims that the team breached Formula One’s budget cap last year.
Why was the budget cap introduced in Formula 1?
The Financial Regulations were introduced in the Formula One World Championship last year after an unanimous approval of the competitors. The reason behind introducing financial regulations was to limit spending in the championship. Formula 1 had set a budget cap of $145 million last year, which came down to $140 million for the 2022 season. The budget cap is likely to drop down to $135 million for 2023, excluding driver salaries and engine costs.
F1 news: FIA issues statement over Red Bull ‘overspending’ last year
According to the FIA statement, Red Bull F1 team has been considered to be in ‘Procedural and Minor overspend Breaches of the Financial Regulations. While going over the budget cap by less than 5% is considered a minor breach, it is highly unlikely that Max Verstappen will lose his 2021 title which he won in dramatic fashion after beating Lewis Hamilton.
Under FIA regulations, teams found guilty of a minor ‘overspending’ breach can be punished with a fine “and/or any minor sporting penalties.” Red Bull released a statement following the FIA verdict and said, “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.”
Christian Horner’s reaction to Red Bull’s breaching of budget cap
Ahead of the Singapore Grand Prix, Mercedes team boss Toto Wolff has demanded that governing body FIA take action if Red Bull or other teams have broken the rule. Ferrari too supported Wolff’s comments about the budget cap. However, Christian Horner had said that Red Bull was a little bit taken aback by the comments from two of the fiercest rival teams.
“The submissions between the team and the FIA is confidential, and I have no idea what the outcome of our rivals’ submission is so I would be intrigued to know where their source of information for these fictitious claims has come from.” Horner further went onto say, “We are here talking about cost caps rather than the phenomenal performance Max has had this year. It is an underhand tactic employed to detract from perhaps a lack of performance on track from our rivals,” Horner was quoted as saying during a press conference.
