F1 News: FIA Debunks Rumour Of 3 Teams Breaching Cost Cap

In the whirlwind of rumors surrounding the Formula 1 arena, the brilliant Craig Slater of Sky Sports News has debunked the speculation claiming that several F1 teams have violated the budget cap.

This comes after rumours emerged that either two or three teams haven't adhered to the current spending regulations. According to Slater, this can't be correct as the process hasn't finished yet with the auditing process still in full swing. Of course, this is exactly what the FIA reported last year at a similar time, so the jury is still out in my opinion.

"I have contacted the FIA. They are quite adamant in their response.

"They told me that the reports are factually wrong!" Slater told Sky Sports F1.

This process will see all ten teams audited to ensure they haven't overspent and therefore gained an advantage. It's also important to note that this will be for the year 2022, not 2023.

Once this process comes to an end, the FIA will assess their findings and review. The findings should be revealed at the end of this month by the Cost Cap Adjudication (CCA), although this hasn't been confirmed.

The budget cap made its debut in the 2021 Formula 1 season where it was originally $135 million. This was increased to $130 million after teams argued that with inflation, their general expenses will increase such as logistics.

Red Bull was found guilt of overspending in 2021, resulting in a $7 million penalty and a 10% reduction in their wind tunnel time. This year, F1 CEO Stefano Domenicali has asked for punishments to be sporting rather than financial.