P1racenews AI automatic summary:
The FIA has published a statement in response to reports engulfing the F1 paddock that two teams have been found in breach of the cost cap for the 2024 season.
The FIA has issued a statement addressing speculation about multiple F1 teams potentially violating the cost cap for the 2024 season.
During the Mexico City Grand Prix, rumors surfaced about one minor and one more serious breach among the teams.
Formula 1’s financial rules mandate that teams adhere to the cost cap, initially introduced for the 2021 season.
The cost cap’s base level is $135 million yearly, but teams are allowed to spend approximately $150-160 million after adjusting for inflation.
The FIA emphasized during media day at Autodromo Hermanos Rodriguez that they do not comment on individual cost cap submissions.
Previously, Red Bull and Aston Martin were penalized for cost cap breaches in the 2021 season, with fines and penalties applied accordingly.
