Singapore — Friday, team principal Christian Horner refuted rumors that Red Bull had surpassed their Formula One 2021 budget and could face penalties by stating, “our proposal was below the cap.”
Before Friday’s practice for the Singapore Grand Prix, rumors circulated that two of the 10 teams on the grid had over the $145 million budget limit and could be penalized by the regulating body FIA.
As they powered Max Verstappen to his first Formula One world title, Red Bull was suspected of exceeding cost limitations by introducing parts improvements.
Horner stated to Sky Sports F1 that he believed in the FIA’s procedure, with the governing body’s results to be released next week and teams’ compliance to be validated.
“The accounts were filed to the FIA back in March, and we are in the midst of the review process,” Horner stated at the Marina Bay Circuit.
“They are appropriately adhering to this procedure, and they will announce their certifications by the middle of next week.”
“Our submission was below the limit, so it is the FIA’s responsibility to continue with their current procedure.”
In the previous season, the cap was introduced for the first time.
“It is a brand-new set of regulations, so how they are construed and applied will be subject to interpretation and application,” said Horner.
Next week, the FIA will release a report containing a variety of sanctions, including fines and championship point deductions, depending on the severity of any budget cap violation.
Horner stated, “We are confident in our submission.” The existence of rumors is inevitable.