The FIA Cost Cap Administration has confirmed that all ten teams on the Formula 1 grid were compliant with the financial regulation for the 2022 season.
The cost cap, which limited teams’ spending to $140 million across the 2022 season, was in its second season of operation, having debuted in 2021 with a limit of $145 million.
After a lengthy review of all operations made by the teams across the 2022 season, certificates of compliance have been issued across the entire F1 paddock.
The review, which the FIA has called an “intensive and thorough process”, included a detailed analysis of documentation supplied by each of the 10 teams on the F1 grid and multiple on-site visits to each team to look over any “non-F1 activities”.
The FIA noted that: “all Competitors acted at all times in a spirit of good faith and cooperation throughout the process.”
The motorsport world governing body also made a point of stating the importance of the financial regulation, calling it; “essential to the long-term financial stability of the sport.”
The initial introduction of the cost cap in 2021 was originally deemed to be in the region of $175 million, but the implications of the COVID-19 pandemic saw that figure slashed to $145 million. The cost-cap has since come down in $5 million intervals year-on-year.
After the first year of the cost-cap regulation, the FIA Cost Cap Administration found three teams to be in breach across the 2021 season, following the end of its review last year.
One of those three teams was Red Bull, who was found guilty of a minor overspend and subsequently fined $7 million, alongside a 10% reduction in wind tunnel testing for the 2023 season.
Williams and Aston Martin were also found guilty of having committed procedural breaches.
Williams was fined $25,000 for missing a deadline to file the team’s 2021 accounts and Aston Martin was fined $450,00 for inaccurately excluding or adjusting costs in its 2021 calculations.
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