After taking into account an unclaimed UK tax credit, the Milton Keynes-based team breached the cap by $500,000 in 2021, the year of Verstappen’s first title.
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Red Bull and the FIA entered an Accepted Breach Agreement on Wednesday after the Milton Keynes-based team breached the 2021 financial regulations.
According to the details released Friday by Formula One’s governing body, the team only exceeded last year’s cost cap by 1.6% (£1,864.000), which is categorized as a minor breach. However, there was an unclaimed UK tax credit of £1.4 million ($1.6 million). When taking that into account if they had correctly applied for it, the FIA acknowledged that Red Bull would have breached the cost cap by 0.37% ($500,000).
There were 13 areas in total that the FIA determined needed to be adjusted, such as sick pay, catering costs and the value of unused parts.
Red Bull was dealt the following sanctions: a $7 million fine that needs to be paid within 30 days and a 10% reduction in aerodynamic/wind tunnel testing time for next season. This confirms that Max Verstappen’s double world championships and the team’s constructors’ title that was won in Austin will stay with Red Bull, though they were not seriously under threat.
The FIA said in a statement, “There is no accusation or evidence that Red Bull Racing has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration.”
Red Bull was already receiving less wind tunnel time than the other nine teams on the grid after winning the constructors’ title this season as the lowest team gets the most time and the highest team gets the least.
Team principal Christian Horner is expected to comment on the sanctions later on Friday as a press conference was called. F1 is currently in Mexico for the Mexico City Grand Prix, the home race of Red Bull’s own Sergio Pérez.
It was later announced that Aston Martin was fined $450,000 for its procedural breach after the team “inaccurately excluded and/or adjusted costs in the calculation of its relevant costs,” per the FIA.
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