NewsFormula One fined Red Bull €7 million for exceeding budget cap

Formula One fined Red Bull €7 million for exceeding budget cap

Formula One’s governing body has fined Red Bull because the team spent more than it was allowed to during the 2021 season when Max Verstappen won the championship.

The FIA and Red Bull agreed on a fine of $7 million (7.04 million euros) and a 10% cut in the amount of time Red Bull will spend on aerodynamic research over the next year.

The UK-based builder has thirty days to pay the fine and cover the costs of the investigation.

The Federation Internationale de l’Automobile (FIA) found that Red Bull had gone over its spending limits for 2021 by a total of $1.8 million (€1.81 million). However, the organization said that “there is no accusation or evidence that RBR has ever tried to act in bad faith, dishonestly, or fraudulently, nor has it willfully hidden any information from the Cost Cap Administration.”

Red Bull says that they overspent on a number of services because of a mistake in their paperwork.

People who wanted harsher punishments, like taking away Verstappen’s championship from the year before or cutting Red Bull’s budget in the future, will not be happy with what happened on Friday.

Formula One set a budget limit so that the teams with more money wouldn’t be able to spend more than the teams with less money.

Even though there are still three races left in the Formula One season, Max Verstappen and Red Bull have already won the second driver’s championship and the constructors’ championship.

After a controversial finish to the Abu Dhabi Grand Prix in 2021, Verstappen won his first title. Michael Masi, who was in charge of the race at the time, changed the rules so that the Mercedes driver could be passed by the Dutch driver on the last lap. This made it possible for Verstappen to win his first title.

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