F1 boss 'trusts' FIA with cost cap penalties
One of the biggest stories of the 2022 Formula 1 season actually dates back to the year prior, when for the first time a cost cap was introduced.
The results of the auditing from the FIA for the 2021 accounts revealed that three teams committed breaches of the cost cap, with Red Bull committing the biggest offence by overspending on the $145 million budget.
As a result, the team was punished with a $7 million fine and must forfeit 10% of its aerodynamic development allowance.
F1 Chief Executive Officer, Stefano Domenicali, spoke to Gazzetta dello Sport about the saga and the positive step it has made towards bringing in financial stability.
"Let's take a step back first. The introduction of the budget cap is a positive step. We needed more financial stability in the sport. We are talking about a reality where before only sporting and technical regulations existed," he said.
“The introduction of the financial variable is not without fits and starts. That i...