FIA: No team has breached 2022 budget cap yet

2022 Budget Cap Breach for three teams speculations.

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The FIA has reaffirmed that the audit process to assess teams' compliance with the 2022 budget cap is still in progress. This comes as a response to reports suggesting that two or three teams may have exceeded the budget limit. For the 2021 season, Formula 1 teams were subject to a budget cap of $140 million, which was a $5 million reduction from the initial year of the financial regulations.

A Comparison of 2021 and 2022 Budget Cap:

The FIA has reaffirmed that the audit process to assess teams' compliance with the 2022 budget cap is still in progress. This comes as a response to reports suggesting that two or three teams may have exceeded the budget limit. 

For the 2021 season, Formula 1 teams were subject to a budget cap of $140 million, which was a $5 million reduction from the initial year of the financial regulations. However, to address the impact of escalating inflation, a mid-season break was introduced. 

During the 2021 season, Red Bull was found to have breached the budget cap, which led to murmurs of discontent emerging during the Singapore Grand Prix. As the FIA continues its auditing process, the compliance of teams to the budget cap for the 2022 season is being closely scrutinized, and further information about any potential violations or adjustments is yet to be made public.

But reports of potential breaches have arrived early this season, with Italian media suggesting three teams have overspent whilst German media claims only two are in violation.

FIA's response regarding the 2022 F1 Budget Cap Breaches by Teams: “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”

In response to the ongoing speculation surrounding budget cap compliance, an FIA spokesperson has emphasized that the process for financial regulation certification for the teams is still in progress. As of now, none of the teams have been informed of their certification status. 

The auditing fieldwork is currently underway and is expected to be completed in the coming weeks. After the fieldwork is concluded, there will be a period necessary for the finalization of the review. The FIA has clarified that there is no specific deadline for certification, and any claims of delays or potential breaches are baseless. 

The Cost Cap Administration will communicate its findings following the established procedure outlined in the Financial Regulations. The intentional lack of a fixed timeframe is meant to preserve the thoroughness and effectiveness of the review process without any prejudgment or undue haste in reaching a conclusion. The FIA is committed to conducting a robust evaluation before communicating the results to the relevant teams.

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