Capped budget: all Formula 1 teams within the limits in 2022
The International Automobile Federation issued a statement today indicating that the 10 Formula 1 teams have complied with cost cap rules in 2022.
« The FIA confirms that its Cost Cap Administration has now completed the review of the declaration documents submitted by each competitor who participated in the FIA Formula 1 World Championship 2022 for the declaration period of the year 2022 ending on December 31, 2022. » This is the message published today by the FIA in a press release.
This follows last year’s incident where the Red Bull team exceeded the (budget cap) by approximately 1.8 million dollars, resulting in a financial penalty of 7 million dollars and a 10% reduction in their allocated aerodynamic testing. Aston Martin also received a fine of 450,000 dollars for cost adjustment discrepancies related to their new Silverstone base.
Visits to the teams’ facilities
This time, everyone is in compliance. After examinations of « documents submitted by the teams », as well as « thorough checks of all non-F1 activities carried out by the teams, which included multiple on-site visits to the teams’ facilities and meticulous audit procedures », the FIA declared that each team has been issued a certificate of compliance.
In 2022, the F1 teams had a [budget cap of 146 million euros](/f1/actualite/29173-quel-budget-doivent-respecter-les-equipes-de-f1-en-2023.html). This season, that amount has increased to approximately 155 million.
