FIA postpone Cost Cap certificates
5th October 2022The FIA was expected to release the financial certificates, on the 2021 cost cap, today but the governing body has now pushed the date back to Monday, October 10.
Ahead of the Singapore Grand Prix, talk of the imminent release of the FIA’s financial regulations audit began to race around the Marina Bay Street Circuit.
Rumours circulated the paddock with Red Bull Racing and Aston Martin alleged to be the worse offenders of the juvenile regulation. However, these accusations were reported to be merely speculation.
The certificates were expected to be released today, Wednesday, October 5, but the governing body has stated they will not release the results until Monday, October 10.
In a statement the governing body stated:
“The FIA informs that the conclusion of the analysis of the 2021 financial submissions of the Formula 1 teams and the subsequent release of Certificates of Compliance to the Financial Regulations will not take place on Wednesday, 5 October.
“The analysis of financial submissions is a long and complex process that is ongoing and will be concluded to enable the release of the Certificates on Monday, 10 October.
“The Financial Regulations were agreed unanimously by all Competitors, who have worked positively and collaboratively with the FIA Cost Cap Administration throughout this first year under the Financial Regulations.
“As previously communicated, there has been significant and unsubstantiated speculation and conjecture in relation to this matter, and the FIA reiterates that until it is finalised, no further information will be provided.
“The FIA also reiterates that any suggestion that FIA personnel have disclosed sensitive information is equally baseless.”
Those who are found to have breached the cost cap, on Monday, will face one of two punishments; Minor (overspend by less than 5% of cap) and Major (overspend of more than 5% of cap) breaches.
Both of these punishments come with their own set of repercussions.
For minor breaches, teams could face; deduction of championship points (Drivers and Constructors), Suspension of one or more stage of competition, limitations of their ability to conduct aerodynamic or other tests and reduction of the cost cap.
On the other hand, major breaches come with similar – and more severe – penalties, such as; deduction of championship points (Drivers and Constructors), Suspension of one or more stage of competition, suspension for an entire competition, reduction of the cost cap and/or exclusion from the championship.
The financial regulation was put into place for F1’s 2021 world championship season, and limited the amount of money the teams could spend.
That’s it for the article; FIA postpone Cost Cap results to Monday! What do you think, should the FIA take a more lenient or strict approach to those who breach the cost cap? Let us know in the comments!
Read more Formula 1 here:
- Singapore GP: Perez wins despite pending investigation
- Singapore GP: Leclerc on pole while Verstappen is ordered to pit
- Singapore GP: Leclerc tops FP3 after weather delay
- Singapore GP: Sainz leads 1-2 finish in FP2
- Singapore GP: Hamilton tops FP1 as Stroll red flags session
To keep up to date with the latest news from Apex Motorsports, follow us on Twitter, Instagram and Facebook!
Hi, I’m Kamron. I created ApexMotorsports.co.uk in the dying embers of the 2021 Formula 1 world championship. It allowed me freedom to write whatever I wanted to write about which was all things motorsports, my passion.
I have put a lot of effort in over the years to keep this website in its best shape and I’ve loved seeing the brand grow consistently, month-on-month, year-on-year. My ambition is to keep watching this brand grow into a primary outlet of news for all things motorsports whilst fueling my desire to pursue a career in sports journalism, specialising in motorsports.
