Red Bull Fined $7 Million for Overspending F1 Cost Cap

[Epoch-Times-Bot]

Red Bull Fined $7 Million for Overspending F1 Cost Cap

MEXICO CITY—Fancy catering and energy drinks. Social security contributions and medical treatments for an employee that survived their illness.
Those are some of the expenditures Red Bull claimed Friday it improperly misrepresented when submitting its 2021 financial report. It led to a breach of Formula One’s spending cap, set at $145 million for its debut season, and penalties handed down by the series governing body.
The FIA on Friday ordered the F1 championship team to pay a $7 million fine and forfeit wind tunnel time as punishment for overspending by $1.8 million during Max Verstappen's first championship season. The FIA found 13 discrepancies in an audit of over 75,000 line items on Red Bull’s 2021 financial report, team principal Christian Horner said....

Source: Red Bull Fined $7 Million for Overspending F1 Cost Cap

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