The FIA has responded to speculation over teams allegedly breaching the cost cap rules during the 2021 season.
Both Red Bull and Aston Martin are under suspicion of breaking the $145 million USD cost cap in 2021, with the FIA set to reveal each team's finances within the next week after audits.
Mercedes Team Principal Toto Wolff has said that any breach of the cost cap would be a "heavyweight" offence, while Red Bull boss Christian Horner believes his squad have fully complied with the regulations.
The governing body said in an earlier statement: "The FIA is currently finalising the assessment of the 2021 financial data submitted by all Formula 1 teams. Alleged breaches of the Financial Regulations, if any, will be dealt with according to the formal process set out in the regulations."
With the speculation rife among teams the FIA has issued a further statement, doubling down on "unsubstantiated speculation and conjecture" relating to the story.
"The FIA notes significant and unsubstantiated speculation and conjecture in relation to this matter, and reiterates that the assessment is ongoing and due process will be followed without consideration to any external discussion."
What happens if a team exceeds the cost cap?
The ramifications for exceeding the budget cap are split into two categories: minor and major.
Exceeding Cost Cap Penalties
|Minor (Overspend of less than 5%)||Major (Overspend of more than 5%)|
|Deduction of Drivers' & Constructors' Championship points||Deduction of Drivers' & Constructors' Championship points|
|Suspension from one or more stages of a competition||Suspension from one or more stages of a competition|
|Limitations on ability to conduct aerodynamic or other testing||Suspension from an entire competition|
|Reduction of the Cost Cap||Exclusion from the Championship|
|Reduction of the Cost Cap|