The FIA has confirmed that nine of the ten teams were in compliance with the cost cap in 2024, with only Aston Martin cited for a procedural error “of a very minor nature”.
As reported last week, Aston Martin has admitted that it failed to submit audited accounts before the March 31 deadline due to extenuating circumstances, while the FIA received unaudited accounts before the deadline. The team did not exceed the cost ceiling and concluded an Accepted Breach Agreement (ABA) with the FIA at the end of September.
The delay in confirming compliance by the remaining teams since then had led to speculation that another team was in breach, but the FIA says the complex nature of the process – which also includes financial regulations relating to all 2026 engine manufacturers – was taking longer than in previous years.
“The review of the reporting documentation was a very thorough and intensive process that lasted seven months,” an FIA statement said.
“The FIA confirms that the assessment process is particularly time-consuming given both the complexity of the Financial Regulation and the need to assess the technical aspects (and associated cost treatment) of development activities undertaken by F1 teams and PU manufacturers.
“The FIA confirms that all F1 teams and all PU manufacturers have given their full support in providing the required information. The Cost Cap Administration notes that all F1 teams and all PU manufacturers have acted at all times in a spirit of good faith and cooperation throughout the process.”
The cost cap was first introduced in 2021, with the aim of limiting spending in F1 “to ensure the long-term viability of the championship and encourage convergence in performance between competitors, creating more exciting racing”. The final reporting period runs until December 31, 2024, with accounts submitted three months later.
All five powertrain manufacturers – Mercedes, Ferrari, Red Bull Powertrains, Honda and Audi – were also found to comply with the relevant financial regulations.
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