F1 budget cap: Red Bull fined £6m and given reduction in wind tunnel time for 2023 season for breach

Red Bull have been fined £6.07m and will have 10 per cent less wind tunnel time for the 2023 Formula 1 season for their budget cap breach.

The FIA have revealed Red Bull breached the budget cap last year by £1.86m, which equates to 1.6 per cent.

However, the FIA acknowledge if a tax credit had been correctly applied it would have been £432,652, or 0.37 per cent.

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“There is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration,” read a statement from the FIA.

More to follow…

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