The FIA has announced that all 10 Formula 1 teams are compliant with the 2022 cost cap and that there have not been any breaches.
For the second year of the cost cap regulations, teams were only allowed to spend $140 million USD, although $1.2 million was added for a 22nd race. An extra $4.3 million was agreed to in July 2022 to combat the rise in global inflation, meaning the final cap was around the $145.5 million USD mark.
The Cost Cap Adjudication Panel has been evaluating the submissions from the 10 teams for the 2022 season and has found that there have been no overspends or procedural breaches from across the grid, with the FIA being forced in July to issue a statement denying allegations two teams had broken the cap.
In 2022, for the 2021 cap, it was found that Red Bull breached the cap by an eventual $432,000, for which it was docked development time and handed a fine after accepting the breach.
Williams and Aston Martin were also found not to be in compliance with the 2021 cap, although this was merely a procedural breach and both were well within the limit.
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"The FIA confirms that its Cost Cap Administration has now completed the review of the Reporting Documentation submitted by each Competitor that participated in the 2022 FIA Formula One World Championship in respect of the 2022 Full Year Reporting Period ending on 31 December 2022," read a statement from the FIA.
"The FIA Cost Cap Administration has issued certificates of compliance to all of the ten Competitors.
"The FIA notes that the Financial Regulations are essential to the long-term financial stability of the sport, and that they will continue to be developed and refined based on the findings of each review process both in terms of the regulations themselves, which are written and approved under the FIA Formula 1 governance process, and the way in which they are enforced and policed.
"The FIA has made and will continue to make significant investments in this department for the collective benefit of the sport."