FIA announces 2021 Cost Cap breaches by two F1 teams

The FIA have announced that two teams have breached the 2021 Financial Regulations.

According to the FIA, who released their findings into a cost cap investigation on the Monday after the 2022 Japanese Grand Prix, Aston Martin are in 'Procedural Breach'.

Red Bull have committed a Procedural Breach and a Minor Financial Overspend (less than 5% of the Cost Cap), according to the FIA.

Williams were found to have made a Procedural Breach in May 2022 that the team then rectified in a "timely, cooperative and transparent manner".

READ MORE: Williams fined $25,000 for procedural breach of financial regulations

"The review of the Reporting Documentation submitted has been an intensive and thorough process, and all Competitors gave their full support in providing the required information to assess their financial situation during this first year of the Financial Regulations. The FIA Cost Cap Administration notes that all Competitors acted at all times in a spirit of good faith and cooperation throughout the process," stated the FIA.

"The FIA would also note that 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.

"The FIA Cost Cap Administration is currently determining the appropriate course of action to be taken under the Financial Regulations with respect to Aston Martin and Red Bull and further information will be communicated in compliance with the Regulations."

Procedural Breaches and Minor Overspend Breaches can result in financial penalties and/or minor sporting penalties.

Red Bull, meanwhile, issued a response to the findings on social media which read: "We note the findings by the FIA of 'Minor Overspend Breaches of the Financial Regulations' with surprise and disappointment.

"Our 2021 submission was below the Cost Cap limit, so we need to carefully revew the FIA's findings as our belief remains that the relevant costs are under the 2021 Cost Cap amount.

"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."