P1racenews AI automatic summary:
The FIA has announced that all 10 Formula 1 teams were compliant with the series’ budget cap regulation through the 2023 season, despite two procedural breaches. The cost cap, which limited sides’ spending to $135 million in the last campaign, was in its third term of operation, having debuted in 2021 with a limit of […]
In the last campaign, the cost cap limited sides’ spending to $135 million, marking its third term of operation since it was introduced in 2021 with a limit of $145 million. Red Bull breached the regulation in 2021, resulting in a $7 million fine and a 10% reduction in wind tunnel time for the champions in the 2022 season. Despite this, all incumbent sides followed the restriction in 2022, and the Cost Cap Administration’s (CCA) thorough process led to the same outcome in 2023. The FIA revealed that the CCA found procedural breaches from 2026 power unit manufacturers Alpine and Honda Racing Corporation. However, both manufacturers were found not to have exceeded the cost cap, with the CCA acknowledging their cooperation and good faith. Therefore, the CCA recommended that both sides settle for an Accepted Breach Agreement due to the complexities of the new Financial Regulations for PU Manufacturers.
