FIA postpones budget cap report to Monday

TOKYO - Formula One chiefs have postponed the release of findings into claims the sport's spending budget has been exceeded, a point of contention that sparked a bitter war of words at last weekend's Singapore Grand Prix.

The cost cap compliance certificates were due on Wednesday, after previous delays, but the International Automobile Federation (FIA) said the analysis of the teams' financial submissions was a long and complex process and had yet to finish.

It said the release of the certificates would now be on Monday, the day after what could be a title-deciding Japanese Grand Prix at Suzuka.

"There has been significant and unsubstantiated speculation and conjecture in relation to this matter," the FIA added in a statement, referring to alleged breaches of the financial regulations.

"The FIA reiterates that until it is finalised, no further information will be provided," it said, adding that "any suggestion that FIA personnel have disclosed sensitive information is equally baseless".

Formula One introduced the budget cap in 2021, narrowing it from US$145 million (S$206.7 million) to US$140 million in 2022 and US$135 million in 2023, to rein in runaway spending by the biggest teams and level the playing field.

Rumours had swirled around the paddock at the Singapore Grand Prix after two European publications, Auto Motor und Sport in Germany and Italy's Gazzetta dello Sport, claimed Red Bull and Aston Martin had broken the 2021 spending ceiling.

That even led to Red Bull boss Christian Horner threatening legal action after suggestions the championship leaders were one of them.

His team are leading both world championships with 25-year-old Dutchman Max Verstappen set to clinch his second successive drivers' title.

Mercedes and Ferrari, Red Bull's main rivals, have both said any breach in 2021 would bring carry-over benefits for the 2022 and 2023 seasons.

A breach, depending on its magnitude, can lead to penalties ranging from public reprimands, fines to a deduction of championship points and even exclusion from the championship.

Mercedes driver Lewis Hamilton, who fought a season-long battle with Verstappen in 2021 that was decided on the last lap of the final race at Abu Dhabi, on Thursday called for any teams violating the spending rules to face serious sanctions.

The seven-time world champion said: "It's imperative, honestly, just for transparency. It would be bad for the sport if action wasn't taken if there was a breach, but I don't know if there is, so I'll wait just as you will."

REUTERS, AFP