Aston Martin has acknowledged a minor procedural violation of Formula 1 cost cap regulations for the 2024 season. The team did not exceed the spending limit, but an oversight in the submission process of their self-assessment to the FIA has prompted further scrutiny from the governing body.
Since 2021, teams have been limited in their annual operational expenses, excluding certain costs like driver salaries and marketing outlays. The budget cap for the 2024 season was approximately £124 million.
All teams were required to submit their self-assessments for the 2024 season by March 31 this year. Despite the FIA granting compliance certificates to all ten teams in September for the previous two years, it is now late October with no official announcement from the regulatory body.
Speculation arose due to this delay, suggesting potential breaches, and it has now been revealed that two teams may have violated the rules.
Aston Martin has confessed to a minor procedural breach of the cost cap rules. The team did not overspend, but a document lacking an auditor’s signature by the March 31 deadline led the FIA to consider it a breach as per regulations.
Aston Martin has agreed to an Accepted Breach Agreement (ABA) with the FIA, resulting in a minor penalty. Conversely, another unnamed team faces a more severe penalty for allegedly exceeding the spending limit in 2024, which they dispute.
Red Bull is the only team so far found guilty of overspending in a season when the cost cap regulations were introduced. The Milton Keynes-based team surpassed the cap by 1.6 percent, deemed a ‘minor’ breach, and agreed to a £6 million fine and a 10 percent reduction in wind tunnel testing time over a year.
The FIA’s announcement on the 2024 cost cap filings has been delayed due to this alleged overspending. The governing body aims to announce all teams’ outcomes simultaneously, and the team accused of breaching the cap is reportedly challenging the accusations.
An FIA spokesperson stated that the review of the 2024 submissions from teams and power unit manufacturers is nearing completion, with results expected to be disclosed soon. Individual team submissions will not be commented on, and the outcomes will be made public once all assessments are finalized.