The FIA and Red Bull have agreed terms on a settlement for the latter's breach of the 2021 Formula 1 Financial Regulations, RacingNews365.com understands. The team have called a press conference for 11:30am Friday morning in Mexico during which details of the settlement - known as an Accepted Breach Agreement (ABA) - are likely to be released. The FIA found after its auditing process of the 10 teams' finances for the 2021 season that Red Bull overspent the $145 million cost cap by about $1.8 million after catering, sick pay, spare parts and tax problems pushed the team over the limit. They are also believed to have committed a procedural breach, with both parties entering negotiations in Austin last weekend to agree a settlement - although discussions were postponed following the death of Red Bull owner Dietrich Mateschitz last weekend. In accepting an ABA - if that is the outcome - Red Bull will have admitted to breaching the cost cap limit, triggering appropriate penalties. RacingNews365.com's sources indicate any penalties handed out will likely be of a monetary nature - a figure of upwards of $5m has been mentioned - plus deductions in wind-tunnel time. Whilst the regulations make provision for points deductions, this option does not apply under an ABA, ensuring that Red Bull keeps its 2021/2 championships. Thus the team has avoided the adjudication process - which potentially carries heavier penalties - as outlined in the financial regulations.
Verstappen on "sore losers"
Verstappen, who won his maiden World Championship in 2021 after a controversial finish in Abu Dhabi against Lewis Hamilton, has faced calls on social media to be stripped of his title due to the overspend. However, the now two-time World Champion rubbished those claims. "They are sore anyway, so it doesn’t matter what you say or what you do," he told media including RacingNews365.com in Mexico. "From our side, we feel like we are not wrong [in the submitted accounts]. "Just some things are taken into the budget cap which are very unexpected, but we’ll have to deal with it. "It’s not up to me to decide what’s right."
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