F1 teams in the clear for FIA 2022 Cost Cap

The FIA has confirmed that all ten Formula 1 teams have been reviewed and cleared of any Cost Cap Administration breaches for the 2022 season.

After the much talked about $145 million dollar Cost Cap (USD) was introduced for the 2021 FIA Formula 1 season, last year’s process saw three teams in breach of the new regulations, Which resulted in the championship winning Red Bull team fined and stripped of a percentage of its aerodynamic testing time for this season.

For a 1.6% overspend, the Milton Keynes team was fined $7 Million to go with the 10% reduction of access time to its aero testing facilities.

Aston Martin ($450,000) and Williams ($25,000) were also fined for breaching the spending limit, but this year all teams were found to be under the spending limit, receiving certificates of compliance.

For the 2022 season, the Cap was reduced to $140 million, but it was given a mid-season boost of 3.1% (4.3 million) owing to the inflation of race dates on the calendar from when the initial sum was calculated.

Introduced to ensure the long term financial stability of the sport, the FIA said that the process covered the entire gamut of a teams on and off track spending.

“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.”

Despite Red Bull’s penalty from its overspend last season, it hasn’t stopped the juggernaut team breaking all winning records this season, with the 1988 McLaren team win streak of 12 going by the wayside, as well as Max Verstappen going past Sebastian Vettel’s 2013 streak on nine wins, registering his tenth straight at Monza.

Despite breaching the cap in it’s winning 2021 season, the FIA released a statement saying that in winning the 2021 F1 title that it “did not act in bad faith, dishonestly or in a fraudulent manner”.

Lewis Hamilton was inclined to disagree however, making the claim that if Mercedes had spent the extra money that he would have indeed won the championship.

And in regards to Aston Martin and Williams it said the fines were due to the fact they “inaccurately excluded and/or adjusted costs in the calculation of its relevant costs”.

For this current season, the Cost Cap was set at $135.

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