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Aston Martin

Aston Martin 'confident' on reaching agreement with FIA over cost cap breach

The team was guilty of a procedural breach of the Formula 1 cost cap for 2021, but did not go over the $145 million limit.

Stroll USA
Article
To news overview © XPBimages

Aston Martin Team Principal Mike Krack says the team is "confident" on reaching an agreement with the FIA on their 2021 cost cap breach.

While the team did not overspend on the $145 million limit, they did commit a procedural breach of the rules due to a number of administrative accounting protocols.

Procedural breaches can happen if a team makes a mistake when submitting or maintaining financial records.

Aston Martin's violation came in after the audit by the FIA, who looked at the details of their financial reports over the last six months.

The team were the second to be guilty of this breach, after Williams were fined $25,000 earlier this year for the same offence. This happened after Williams notified the FIA that their third party auditor would not be able to complete their work in time for the March deadline.

Krack: Cost cap rules 'a complex matter'

The complexity of the cost cap submission process is something that has been discussed by Team Principals in the wake of the auditing process conducted by the FIA.

Aston Martin's breach was a result of the variations in complex financial regulatory interpretations. Team Principal Mike Krack says the team will learn from its mistakes made, but believes there needs to be more clarity for the future.

"It's complex. It's a complex set of regulations and it is not frustrating it's it shows us that we have to take to to better job the future that we are not having such issues," Krack told media, including RacingNews365.com.

"But at the end of the day, I think the probably the most important is that we were under the cap and the rest is procedure."

Aston Martin case should be resolved in the next couple of days

Krack is confident that an agreement will be made in the coming days having discussed with the FIA over the course of the United States Grand Prix weekend.

While he didn't disclose the specifics, the team is likely to enter into an Accepted Breach Agreement with the governing body. This means the team will avoid any severe penalty and should result in a fine similar to Williams.

He added: "We are we are in discussion with you with the FIA. I think it will be something that we try to conclude in the next days.

"We had we had some discussions over the weekend [US GP] as well with them, and I'm quite confident that we get it solved."

			© XPBimages
	© XPBimages

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