Red Bull called a news conference for Friday at the Mexican Grand Prix amid media reports the new Formula One champions had agreed a settlement with the governing FIA on spending more than allowed last season.
Red Bull said the news conference would “address the 2021 Cost Cap” but they would not comment on an Accepted Breach Agreement (ABA).
Sky Sports television reported an announcement on an ABA was expected and the team were likely to be handed a minor sporting penalty as well as a fine but without any championship points deduction.
Red Bull’s Max Verstappen won the drivers’ title last year and retained it this month.
The FIA announced on Oct. 10 that Red Bull had committed a ‘minor overspend’ of the $145-million cap in 2021, without giving details. Media reports have given a figure of $1.8 million.
Red Bull team boss Christian Horner told reporters at last weekend’s U.S. Grand Prix in Austin, Texas, that an ABA had been proposed by the FIA.
The deadline was extended due to the death of team owner and Red Bull co-founder Dietrich Mateschitz with talks picking up again this week.
Horner promised in Austin that there would be full transparency once the matter was settled.
Some teams have called for a strict punishment to send a strong message that the budget cap, introduced last season, must be respected.
The cap is aimed at levelling the playing field and reducing the competitive advantage of top teams with far greater budgets than smaller ones.