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f1 cost cap fia 2921

All F1 teams receive Cost Cap Certificates for 2022

f1 cost cap fia 2921

The FIA confirmed today that all ten Formula 1 teams have not breached the sport’s cost cap for the 2022 season, and that relevant certificates have been issued.

This means there would be no repeat for the controversy of the 2022 season when Red Bull have been found in breach of he 2021 cost cap, and slapped with a $7-Million penalty while having their wind tunnel time reduced by 10%.

While there have been murmurs that some teams have breached the cost cap for 2022 as well, the FIA has now confirmed all teams are cleared and received their certificates.

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FIA Statement

The FIA confirms that its Cost Cap Administration has now completed the review of the Reporting Documentation submitted by each Competitor that participated in the 2022 FIA Formula One World Championship in respect of the 2022 Full Year Reporting Period ending on 31 December 2022.

The FIA Cost Cap Administration has issued certificates of compliance to all of the ten Competitors.

The review has been an intensive and thorough process, beginning with a detailed analysis of the documentation submitted by the competitors. Additionally, there has been an extensive check of any non-F1 activities undertaken by the teams, which comprised multiple on-site visits to team facilities and careful auditing procedures to assess compliance with 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.

The FIA also notes that the Financial Regulations are essential to the long-term financial stability of the sport, and that they will continue to be developed and refined based on the findings of each review process both in terms of the regulations themselves, which are written and approved under the FIA Formula 1 governance process, and the way in which they are enforced and policed. The FIA has made and will continue to make significant investments in this department for the collective benefit of the sport.