F1: Red Bull fined £6m and handed development penalty for 2021 cost-cap breach

 (AP)
(AP)

Red Bull have been fined $7million (£6.06m) for exceeding Formula One’s cost cap for the 2021 season.

The FIA stated on Friday that the F1 team, for which Max Verstappen won his first world Drivers’ Championship title during the year in question, would also be limited in their aerodynamic development time as a result of the breach.

It was revealed that a £1.86m overspend, amounting to 1.6 per cent of the cost cap, had taken place - although this would have been reduced to £432,652 (0.37 per cent) if tax credits had been correctly applied by Red Bull.

The upshot is a hefty fine for the 2022 world champions, who had previously denied any wrongdoing.

Aerodynamic testing time is limited in F1 and Red Bull will have a 10 percent reduction in their wind tunnel access for the coming 12 months.

A list of 13 areas in which the Milton Keynes-based outfit were found to have wrongly excluded or adjusted costs in relation to the cap includes travel, power units and general maintenance.

However, the FIA said that Red Bull at no point acted in bad faith and talks over the nature of the punishment were held in recent weeks.

A statement read: “Red Bull Racing was found to be in breach, however, the Cost Cap Administration recognised that Red Bull Racing has acted cooperatively throughout the review process and has sought to provide additional information and evidence when requested in a timely manner, that this is the first year of the full application of the Financial Regulations and that there is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration.

“In these circumstances, the Cost Cap Administration offered to RBR an ABA to resolve this matter. That offer was accepted by RBR.”

Aston Martin, following a procedural breach of the cost cap, have been fined $455,000 (£338,300).