Published 1 year ago

Millionaire fines Red Bull for breaching Formula 1 financial regulations

Summary by Ground News

The Cost Cap Administration carried out the first ever Review process under the FIA Formula One World Championship Financial Regulations. Red Bull Racing was found to be in breach of the new rules. An Accepted Breach Agreement (ABA) was entered into by and between Red Bull and the Cost Cap administration on 26 October 2022.

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Millionaire fines Red Bull for breaching Formula 1 financial regulations

The FIA has signed an agreement with the Austrian team to pay an astronomical fine following an investigation that found that they exceeded the cost limit in the 2021 World Cup

1 year ago·C A B A, Argentina

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Clarin

Formula 1: Red Bull is fined a millionaire for breaching the 2021 budget limit

The Austrian team took its blame and will have to pay the FIA 7 million dollars. He also received a minor sports sanction.

1 year ago·C A B A, Argentina

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Autosport

Red Bull accepted FIA cost cap breach agreement for good of F1

Red Bull accepted the FIA's cost cap breach agreement offer for the good of Formula 1 and to prevent the case dragging on for many months, according to Christian Horner.

1 year ago·London, United Kingdom

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Il Post

Red Bull received a $7 million fine for violating Formula 1 financial regulations

In addition to a 10 percent decrease in the time available to carry out aerodynamic tests in view of next year

1 year ago·Italy

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FIA

Accepted Breach Agreement between Red Bull Racing Team and the FIA for Breach of the 2021 FIA Formula One Financial Regulations

Following the submission of all required documentation by all ten Formula One Teams, the Cost Cap Administration carried out the first ever Review process under the FIA Formula One World Championship Financial Regulations. These new Financial Regulations are a very complex set of rules that competitors were required to adapt to for the first time.

1 year ago·Paris, France

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Formula 1® - The Official F1® Website…

Red Bull enter an Accepted Breach Agreement with FIA over breach of 2021 Financial Regulations | Formula 1®

Red Bull have entered an Accepted Breach Agreement (ABA) with the FIA following a breach of the 2021 Financial Regulations, F1’s governing body have said.

1 year ago

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Millionaire fines Red Bull for breaching Formula 1 financial regulations

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Millionaire fines Red Bull for breaching Formula 1 financial regulations

Millionaire fines Red Bull for breaching Formula 1 financial regulations

Formula 1: Red Bull is fined a millionaire for breaching the 2021 budget limit

Formula 1: Red Bull is fined a millionaire for breaching the 2021 budget limit

Red Bull accepted FIA cost cap breach agreement for good of F1

Red Bull accepted FIA cost cap breach agreement for good of F1

Red Bull received a $7 million fine for violating Formula 1 financial regulations

Red Bull received a $7 million fine for violating Formula 1 financial regulations

Accepted Breach Agreement between Red Bull Racing Team and the FIA for Breach of the 2021 FIA Formula One Financial Regulations

Accepted Breach Agreement between Red Bull Racing Team and the FIA for Breach of the 2021 FIA Formula One Financial Regulations

Red Bull enter an Accepted Breach Agreement with FIA over breach of 2021 Financial Regulations | Formula 1®

Red Bull enter an Accepted Breach Agreement with FIA over breach of 2021 Financial Regulations | Formula 1®

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