 The FIA have shut down rumours that Formula One teams breached the budget cap for the 2022 season. In the build-up to last weekend's Hungarian Grand Prix, rumours began to circulate that as many as three teams had broken the budget cap. Reports had suggested that the sport's governing body, the FIA, would be publishing their review on every team's finances at either the end of July or August. Many are hopeful that that will be the case so as to avoid a repeat of last year when the process was more drawn out and it wasn't until mid-October that Red Bull were found guilty of a 'minor overspend' for the 2021 season. However, the FIA have now moved to clarify the situation, saying that there is no fixed date for when the review will be done and that the speculation over possible breaches is 'unfounded'. 'In light of recent reporting, we'd like to reiterate the ongoing process preceding financial regulation certification for the teams – none of which have been informed of their certification status,' an FIA spokesperson said on Sunday. 'The auditing fieldwork is still ongoing and is scheduled to conclude in the upcoming weeks, after which there will be a period required for the finalisation of the review. Red Bull were found guilty of overspending in the 2021 season (Photo: Getty) 'There is not, and has never been, a specific deadline for certification, and any suggestions of delays to this process or potential breaches are completely unfounded. The Cost Cap Administration will formally communicate its findings according to the procedure set out in the Financial Regulations. 'The timeframe is intentionally not fixed in order not to prejudice the robustness and the effectiveness of the review.' Last year, Red Bull were fined £6million and had their wind tunnel time reduced by 10% for overspending, while Aston Martin and Williams received small fines for procedural breaches. For the 2022 season, teams had to operate with a $14){kind=link}
NEWS… BUT NOT AS YOU KNOW IT
The FIA have shut down rumours that Formula One teams breached the budget cap for the 2022 season.
In the build-up to last weekend’s Hungarian Grand Prix, rumours began to circulate that as many as three teams had broken the budget cap.
Reports had suggested that the sport’s governing body, the FIA, would be publishing their review on every team’s finances at either the end of July or August.
Many are hopeful that that will be the case so as to avoid a repeat of last year when the process was more drawn out and it wasn’t until mid-October that Red Bull were found guilty of a ‘minor overspend’ for the 2021 season.