Jaguar and Nissan will both miss the first half of the opening day of Formula E pre-season testing, as a result of breaching the 2022-23 budget cap.
The FIA announced on Wednesday that both Jaguar and Nissan had overspent, resulting in a partial testing ban and fine.
In FE, the budget cap sits at £11,634,213, Nissan overspent by 1.96%, whilst Jaguar went 0.6% over budget.
An FIA statement read: “The Cost Cap Administration recognised that they [Jaguar and Nissan] have acted cooperatively throughout the review process and have sought to provide additional information and evidence when requested in a timely manner.
“That this is the first year of the full application of the Financial Regulations and that there is no accusation or evidence of aggravating factors or that they have sought at any time to act in bad faith, dishonestly or in fraudulent manner, and nor has it wilfully concealed any information from the Cost Cap Administration.”
Due to the partial testing ban, Jaguar's duo of Mitch Evans and Nick Cassidy, and Nissan's duo of Oliver Rowland and Norman Nato will miss the first FE testing session on November 4 in Valencia.
Nissan has also been fined €300,000, whilst Jaguar has been handed a €100,000 fine. Both teams signed an Accepted Breach Agreement (ABA) on October 15, which confirmed that the two outfits accepted the findings and both punishments.
Following the FIA's announcement, Formula E has issued a statement of its own, which reads: “We understand the findings and recognise the diligence with which the FIA carried out the complex review process, in what is the first full year of the Financial Regulations being in place.
"Although two teams were found to have been in minor breach, the championship accepts these were absolutely not intentional and appreciates the exceptional way that these teams have and continue to operate in.”
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Both teams release statements
Following the governing body's announcement, both teams have released statements.
Nissan's statement read: "Following the review of the Reporting Documentation for the 2022-2023 ABB FIA Formula E World Championship by the FIA Cost Cap Administration, Nissan Formula E Team recognizes to have unwittingly and unintentionally incurred in a minor procedural and overspend breach of less than two percent of the Cost Cap.
"The team has therefore signed an Accepted Breach of Agreement (ABA) as offered by the FIA Cost Cap Administration in order to resolve this matter.
"Following a very cooperative review process with the Cost Cap Administration and an exhaustive internal audit, Nissan Formula E Team has determined that these minor breaches are exclusively related to the process of interpretation and adaption of the new Financial Regulations at a time when the team was also facing specific challenges linked to its change of ownership, full restructure, and relocation.
"Nissan Formula E Team has since put in place all the necessary precautions to avoid these kinds of miscalculations and oversights in the future."
Jaguar's read: “Like all Formula E teams, we have welcomed the introduction of the FIA Formula E Financial Regulations and have worked transparently and cooperatively with the Cost Cap Administration throughout this first full reporting period covering Season 9.
“It’s an extremely complex process and while at all times JRL acted in good faith with honesty, integrity and in a spirit of transparency and cooperation, we acknowledge that procedural filing errors have led to the minor overspend breach of 0.6%, GBP £73,849.
“Following consultation with the FIA, we believe that had we filed correctly we would have been fully compliant with Teams’ Cost Cap and the minor overspend breach would not have occurred. Unfortunately, we understand a re-filing is not allowable by the current Regulations and therefore due to these unintended procedural errors we are in a very minor overspend position. At no time did we seek or gain a technical or sporting advantage, as can be seen and confirmed by the Cost Cap Administration’s findings and the nature of the ABA.
“We will continue to work closely with the FIA going forward on the development and application of the cost cap and in the best interests of Formula E – the pinnacle of electric racing.”
In the 2022/23 season – FE's ninth campaign which was won by Andretti's Jake Dennis – Jaguar finished runner-up in the teams' championship, whilst Nissan finished seventh.
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