How much do F1 drivers earn?
Christian Horner insists he is “absolutely confident” in Red Bull’s submission as the team face a nervous wait to discover whether they have breached Formula 1’s cost cap rules.
The FIA was due to reveal on Wednesday which teams have met last term’s $145m (£114m) budget, but an announcement at around 4pm BST confirmed the report will not be published until on Monday, one day after the Japanese Grand Prix. The FIA said: “Analysis of the financial submissions is a long and complex process which is ongoing and will be concluded to enable the certificates to be issued on Monday 10 October.”
In the build-up to Sunday’s Singapore Grand Prix, which was won by Red Bull’s Sergio Perez, the team faced unproven claims that went beyond that figure, possibly by more than five percent, which would equate to more than $7.25 million (£). 5.6m). Red Bull denies the allegations.
FIA penalties for non-compliance range from a warning, financial penalties, to the deduction of points from drivers and even exclusion from last year’s championship, won by Max Verstappen in thrilling fashion against Lewis Hamilton.
Follow F1 updates live on The Independent as FIA delay reveals its findings on cost cap
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F1 news: BREAKING – Red Bull forced to wait as FIA delays verdict on F1 budget cap
The FIA has delayed announcing its findings on the 2021 F1 cost cap until Monday.
News of the verdict was expected today as Red Bull and Aston Martin had breached last year’s $145m budget.
However, as the clock ticked past midnight in Japan, where drivers and teams prepare for this weekend’s Japanese Grand Prix, the governing body confirmed they have delayed the announcement until Monday, describing the process as “long and complex”.
The FIA said: “Analysis of the financial submissions is a long and complex process which is ongoing and will be concluded to enable the certificates to be issued on Monday 10 October.” More below:
Red Bull forced to wait as FIA delays verdict on F1 budget cap
News on the cost cap findings was expected today, but the FIA has set a new date for Monday
Kieran Jackson October 5, 2022 4:08 p.m
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F1 news: Red Bull’s reputation on the line today
As much as last year’s unparalleled spectacle in an F1 season for the ages was characterized by Max Verstappen and Lewis Hamilton’s fierce on-track battles, accusations and rebuttals in the paddock from the bosses at the center of the setting made the narratives as captivating as the action on the road.
Christian Horner and Toto Wolff were essentially at each other’s throats from Silverstone last July to Abu Dhabi and the controversy that concluded the 2021 melodrama. The war of words, which bordered on rubbish, epitomized the high-stakes nature of the what was at stake as Red Bull chased the behemoth Mercedes. The impact, in reality, was felt by Michael Masi’s clumsy judgment, which changed Verstappen’s title and, if nothing else, had Netflix heads salivating.
This year, by contrast and amidst Red Bull’s dominance and Mercedes’ shortcomings, has been meek and timid. That is, until Singapore this past weekend. Ahead of Friday’s practice sessions at Marina Bay, murmurs of cost cap breaches quickly spread across the paddock, with two teams rumored to have fallen under F1’s inaugural year of financial measures on 2021: Red Bull and Aston Martin.
Wolff, notably beaten this year by Mercedes’ race-by-race mistakes, did not need a second invitation. Like a predator waiting in the shadows, the CEO of Mercedes came out firing: “It’s been weeks and months that are [Red Bull] is being investigated so maybe he [Horner] he doesn’t talk to his CFO.”
Wolff went on to highlight how exceeding the $145m (£114m) budget for 2021 would have an impact and upside for this year and beyond. Monday’s latest development suggests Wolff could reverse initial plans not to travel to Japan, with the fallout expected to sink in in the Suzuka pit lane later this week and the FIA to reveal on Wednesday whether any teams has breached
Upon hearing Wolff’s remarks – and similar quotes from Ferrari boss Mattia Binotto – a seething Horner came out swinging: “They (comments from other teams) are very defamatory and we find them shady. One can only assume that they are not it is fortuitous that this comes at a time when Max is making his first strike at the world championship.”
Red Bull’s reputation on the line as the 2021 war of words returns to the paddock
Christian Horner was left furious by Toto Wolff’s comments, but Red Bull should be condemned if they have breached financial regulations.
Kieran Jackson October 5, 2022 4:28 p.m
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F1 news: Full statement from the FIA…
“The analysis of the financial communications is a long and complex process that is ongoing and will be concluded to allow the issuance of the certificates on Monday 10 October.
“As previously communicated, there has been significant and unsubstantiated speculation and conjecture in relation to this matter, and the FIA reiterates that until this is finalised, no further information will be provided.
“The FIA also reiterates that any suggestion that FIA staff have disclosed sensitive information is equally unfounded.”
Red Bull forced to wait as FIA delays verdict on F1 budget cap
News on the cost cap findings was expected today, but the FIA has set a new date for Monday
Kieran Jackson October 5, 2022 4:21 p.m
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F1 News: Cost cap UPDATE
So the big news is… no news! There will be no budget limit updates today!
The FIA says: “Analysis of the financial submissions is a long and complex process which is ongoing and will be concluded to enable the certificates to be issued on Monday 10 October.”
So the new date to release the 2021 cost cap findings is Monday, a day after the Japanese Grand Prix.
Kieran Jackson October 5, 2022 4:02 p.m
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F1 news: F1 CEO Ross Brawn in 2019: ‘break financial rules, lose your championship’
Formula 1 CEO and former Ferrari boss Ross Brawn warned in 2019, at the official launch of the sport’s new financial model and cost cap plans, that teams that “breach the financial regulations will lose their championship.”
Three years ago, at a press conference in Texas, Brawn said: “Financial regulations are the dramatic change in F1.
“We have tried that in the past and we have not been successful. I think the most important thing about the financial regulations now is that they are part of the FIA regulations.
“So the penalties for breaching financial regulations will be sporting sanctions of some kind, depending on the severity of the breach.
“Whereas before we had the resource constraint, which was a gentlemen’s pact between teams, I’m afraid there aren’t many gentlemen in the paddock, and that was a failure.
“But this has teeth. If you fraudulently breach financial regulations, you lose your championship. So there are serious consequences if teams breach those regulations.”
(PA file)
Kieran Jackson October 5, 2022 3:30 pm
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F1 news: Toto Wolff called ‘sore loser’ over Red Bull budget cap allegations
Former Formula 1 driver Ralf Schumacher has branded Toto Wolff a “sore loser” after the Mercedes team principal criticized Red Bull for breaking the budget cap. Wolff hit out at his rivals at the recent Singapore F1 after reports described how Christian Horner’s team broke the limit last year.
The 2021 season saw a controversial finish with Red Bull’s Max Verstappen wresting the world championship from Mercedes’ Lewis Hamilton in the final laps. Wolff’s comments have indicated to Schumacher that the team boss is not done with the result of the season.
“Whatever comes out – for me, Toto Wolff, with his harsh criticism, is rather the big loser who still hasn’t digested the fact that he lost the 2021 World Championship,” Schumacher told Sky Germany. “I think it’s a shame. What is clear, though, is that the cost cap has to be respected. If it wasn’t, of course there should be a penalty.
“The basic structure has definitely been shaken. The FIA must investigate itself, because it cannot and cannot happen that something gets out of hand. What is happening here only damages Formula 1 and only the same world governing body may be to blame.”
Kieran Jackson October 5, 2022 3:01 pm
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F1 News: Cost cap UPDATE
Still, we await any news from the FIA as we clock in past 10.30pm in Japan, where all the F1 teams and drivers are ahead of this weekend’s Grand Prix.
At 9.50am (BST) this morning, the FIA said it would update “on the timing of the financial compliance process in the coming hours”. Now we are beyond that point…
A reminder of what’s at stake here:
Formula 1 installed the sport’s first budget cap in 2021, set at $145m (£114m).
Minor non-compliance = overspending less than 5%. Sanctions can be:
– Deduction of points from the Drivers’ and Constructors’ Championship
– Suspension of one or more phases of a competition
– Limitations in the ability to perform aerodynamic or other tests
– Reduction of the cost limit
Major breach: overspending of more than 5%. Sanctions can be:
– Deduction of points from the Drivers’ and Constructors’ Championship
– Suspension of one or more phases of a competition
– Suspension of an entire competition
– Exclusion from the Championship
– Reduction of the cost limit
Red Bull’s Max Verstappen won last year’s World Championship by eight points over Mercedes’ Lewis Hamilton.
Kieran Jackson October 5, 2022 2:30 pm
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F1 news: FIA findings and punishments could be game over for F1 cost cap
Ferrari race director Laurent Mekies highlighted the importance of…