News Details
First team penalized by FIA for violating new budget rules
Formula 1 teams have had to adhere to a budget cap since last year. This not only means that the teams are not allowed to spend too much money, but also that teams must be transparent when it comes to financial administration. For example, all teams have to hand over their annual reports to the FIA for inspection. Williams did not do this in time and is therefore penalized. Article continues under ad Williams violates financial regulations All teams were required to submit their 2021 financial records to the FIA by March 31, 2022. Williams failed to meet the deadline, which the team informed the FIA before the deadline, and was informed by the Cost Cap Administration on April 12 that the...
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3y ago from GPBlog.com
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