{"id":104892,"date":"2022-10-22T16:04:09","date_gmt":"2022-10-22T16:04:09","guid":{"rendered":"https:\/\/harchi90.com\/steiner-calls-for-f1-budget-cap-rules-rethink-for-minor-overspends\/"},"modified":"2022-10-22T16:04:09","modified_gmt":"2022-10-22T16:04:09","slug":"steiner-calls-for-f1-budget-cap-rules-rethink-for-minor-overspends","status":"publish","type":"post","link":"https:\/\/harchi90.com\/steiner-calls-for-f1-budget-cap-rules-rethink-for-minor-overspends\/","title":{"rendered":"Steiner calls for F1 budget cap rules rethink for minor overspends"},"content":{"rendered":"
\n

The FIA \u200b\u200bannounced last week that Red Bull was deemed to have breached the $145 million budget cap last year, something the team has strongly denied.<\/p>\n

The findings from the FIA’s financial audit claimed Red Bull had committed a minor overspend, which is within 5% of the budget cap \u2013 equating to $7.2 million.<\/p>\n

Talks are now ongoing between Red Bull and the FIA \u200b\u200babout a potential Accepted Breach Agreement, but other teams and drivers have been clear in their calls for strict action.<\/p>\n

Steiner said he had \u201cno idea\u201d what sanction Red Bull may face, but felt tweaks were needed for the financial rules moving forward, including a reduction of what is considered to be a minor breach.<\/p>\n

\u201cIt should be smaller, in my opinion, now thinking about it,\u201d Steiner said. \u201cI call it now a $140 million budget cap, 5% is seven million. But in the $140 million, you have got certain expenses which you cannot change.<\/p>\n

\u201cSo these expenses are not seven million on development \u2013 \u200b\u200bthese expenses, 5% on the development, it’s a bigger number. The percentage is the same, but it makes a bigger difference.<\/p>\n

\u201cI think we have to rethink that one when the next Concorde Agreement is written.\u201d<\/p>\n

<\/p>\n

Antonio Giovinazzi, Haas VF-22, leaves the garage<\/p>\n

Photo by: Andy Hone \/ Motorsport Images<\/p>\n<\/section>\n

2021 marked the first year in which teams had to comply with the financial regulations, but they were invited to do a voluntary audit in 2020 to prepare for the introduction of the budget cap the following year.<\/p>\n

Steiner said that it was \u201cdifficult to comply\u201d even for Haas when it did the voluntary audit given the complexity of the rules, saying the FIA \u200b\u200bwas \u201cvery, very strict on it.\u201d<\/p>\n

\u201cThere is no leeway any more in how they present their stuff, you need to do a good job,\u201d he said. \u201cIt’s not only the finance people, it’s the people on the car like with the car parts you use and all that data. It’s hard work to get these all in order.<\/p>\n

\u201cSo it’s not an easy task.\u201d<\/p>\n

Although the FIA \u200b\u200bhas outlined the potential sanctions for teams who commit a minor overspend of the budget cap, if an Accepted Breach Agreement is reached, there can be no loss of constructors’ championship points, drivers’ championship points or a reduction in the cost cap .<\/p>\n

Steiner felt it was a \u201cweakness\u201d of the financial regulations that had to be learned from in the future.<\/p>\n

\u201cAll these things, it’s a first time,\u201d he said. \u201cIf it would be clear, we wouldn’t be here speculating what has been done.<\/p>\n

\u201cGoing into this, achieving to have a cost cap, you need to have respect for however we pushed ourselves along to have one. Now we just need to better them. That will just come with time.<\/p>\n

\u201cThere are a lot of things which maybe we need to make better. Not change, but make better \u2013 which includes change, obviously.\u201d<\/p>\n

Read Also:<\/span><\/p>\n<\/section>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The FIA \u200b\u200bannounced last week that Red Bull was deemed to have breached the $145 million budget cap last year, something the team has strongly denied. The findings from the FIA’s financial audit claimed Red Bull had committed a minor overspend, which is within 5% of the budget cap \u2013 equating to $7.2 million. Talks …<\/p>\n

Steiner calls for F1 budget cap rules rethink for minor overspends<\/span> Read More »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-global-header-display":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[6],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack-related-posts":[{"id":110875,"url":"https:\/\/harchi90.com\/fia-hands-red-bull-7m-f1-fine-aero-testing-reduction-for-cost-cap-breach\/","url_meta":{"origin":104892,"position":0},"title":"FIA hands Red Bull $7m F1 fine, aero testing reduction for cost cap breach","date":"October 28, 2022","format":false,"excerpt":"The FIA \u200b\u200brevealed after the Japanese Grand Prix that both Red Bull and Aston Martin were in breach of F1's financial regulations for 2021, putting them at risk of sanctions. 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Ahead of the\u2026","rel":"","context":"In "Sports"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110611,"url":"https:\/\/harchi90.com\/red-bull-agrees-terms-with-fia-over-2021-f1-cost-cap-breach\/","url_meta":{"origin":104892,"position":4},"title":"Red Bull agrees terms with FIA over 2021 F1 cost cap breach","date":"October 28, 2022","format":false,"excerpt":"The Red Bull Formula 1 team has agreed terms with the FIA \u200b\u200bfor an Accepted Breach Agreement regarding its 2021 cost cap overspend. Details of the agreement and Red Bull's penalty for it will be communicated on Friday before practice for the Mexican Grand Prix begins. 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