The team Williams had to face a $ 25,000 fine for violating the financial regulations of Formula 1 due to non -submission within the set deadline of all documents required by the FIA for the 2021 financial year.
“Williams admitted that it violated Article 5.1 (b) of the financial regulations because they did not submit, as part of their documentation for the entire year in relation to the financial year ending December 31, 2021all documentation for the entire financial year prior to the March 31, 2022 deadline “, The FIA said in a statement, clarifying that in the said action the English team “has committed a procedural violation under Article 8.2 (e) of the Financial Regulations ”.
In this way, Williams was the first team to receive a fine for violating this new regulation, launched in 2021 to introduce a budget ceiling that would control and limit the costs of F1 teams. We need to see what happens in the coming months, as this year’s budget ceiling is 135 million euros (145 million dollars) and teams are complaining about the impossibility of meeting maximum costs due to current inflation in all areas, especially in transportation.
For this reason, even the Red Bull Team Principal said that “seven teams could miss the last four races to meet this year’s spending limit”. In addition, groups need to improve their current single-seater showing improvements knowing that every step brings them a little closer to that ceiling.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
