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F1 Chief: 'Not good' if financial breaches take too long to enforce

The Formula 1 Chief Executive Officer Stefano Domenicali says it is important to react to financial misconduct quickly to be credible.

Formula 1 Chief Executive Officer Stefano Domenicali has said that it is important the championship and the FIA does not take "too long for a reaction" to breaches of the cost cap. Last year three teams were found to have committed breaches of the $145 million cost cap, with Red Bull having committed a "minor" breach after going over the agreed amount. All teams had to submit their accounts for between January 1st 2021 and December 31st 2021 by the March 31st 2022 "Full Year Reporting Deadline," before the results of the auditing was released several months later in October and teams are awarded with certificates of compliance. Domenicali believes the process should be done in as shorter time as possible, to ensure penalties are levied against teams that may have committed breaches. "I think that is a point of attention mainly because, what we have discussed together [with FIA], is that for the credibility of the sport this kind of action to check if everyone is respecting that rule has to be done earlier rather than later," he said in an interview with Sky Sports F1 .

Domenicali: F1 discussing with FIA to do control and certification process earlier

The comments come after Premier League team, Manchester City, has been investigated for committing around 100 breaches of Financial Rules over a nine-year period. During that time the team won three titles in the 2011-12, 2013-14 and 2017-18 seasons. Domenicali believes other sports are taking "too long" for a reaction, which is not beneficial to the competition. "We are discussing this is on the FIA side to make sure that the control and the certification will be done much earlier. Because if some teams will be out of it, it has to be done in a proper way and in the shortest time possible to be more credible. "We see other sports that are taking the financial regulation with a - in my opinion - too long time for a reaction. That is not good."

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