Red Bull was found guiltly of a ‘minor’ breach of the Formula One budget cap, the FIA said on Monday.
Red Bull overshot the cap of $145 million during the 2021 season by five less than five percent, or $7.25 million.
Both Red Bull and Aston Martin were guilty of breaching the ceiling.
FIA, the governing body of motor sport, is yet to determine the course of action.
Responding to the findings of the report, Red Bull said in a statement put out on social media, “We note the findings by the FIA of ‘minor overspend beaches 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.”
More to follow...
