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 released until 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: What Max Verstappen needs to take the F1 world title in Japan this weekend
Max Verstappen fell short of his second world title in Singapore last weekend, but his seventh place finish still means he is in a prime position to wrap up the championship at the Japanese Grand Prix.
The 25-year-old has a 104-point lead over Charles Leclerc at the top of the drivers’ standings, with only Ferrari man and Red Bull team-mate Sergio Perez (106 points behind) able to make a mathematical stop the dutch
With the 2021 cost cap saga delayed after this weekend’s Grand Prix, the focus is on on-track action – that’s what Verstappen needs this weekend to finish with a dominant title as the F1 returns to Suzuka.
What Verstappen needs
Verstappen has won 11 of 17 races this season and leads second-placed Leclerc by 104 points heading into Japan, the first of five races remaining. A possible 138 points are up for grabs until the end of the season: five race wins worth 25 points each, one fastest lap point in each and eight points for the winner of the sprint race in Sao Paulo.
What Max Verstappen needs to take the F1 world title in Japan this weekend
Max Verstappen missed the chance to claim his second world title in Singapore but can do so at Suzuka
Kieran Jackson October 5, 2022 5:58 p.m
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F1 news: Ferrari boss reveals why he believes F1’s ‘credibility’ is at stake
Ferrari team principal Mattia Binotto fears Formula 1’s “credibility” is at stake as the FIA prepares to announce whether any teams have breached the budget cap.
Rumors in the past week have suggested that two manufacturers may have exceeded the cost limit, with Red Bull and Aston Martin denying speculation they had overspent. Mercedes and Ferrari have said they believe one team is marginally under the limit and the other by a more significant figure.
Sports financial regulations define a minor breach as less than 5% of the cap, set at $145m (£114m) in 2021, and a material breach as more. But Binotto is sure that even a minor infraction should be taken seriously.
“It’s certainly a shame that we’re talking about it in October next season, because at this point, apart from the implications for last year’s championship, there are also implications for the current one,” he said. said the director of the Ferrari team to Sky Italia.
“We’ll wait until Wednesday before making a judgment, but whatever amount we’re talking about, it’s important to understand that even if it’s four million, which falls into the category of what’s considered a minor offense, four million is not minor.” .
Ferrari boss reveals why he believes F1’s ‘credibility’ is at stake
The FIA will issue certificates of compliance with the budget limit on Wednesday 5 October
Kieran Jackson October 5, 2022 5:28 p.m
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FULL STORY: Red Bull forced to wait as FIA delays verdict on F1 budget cap
The FIA has delayed the announcement of its long-awaited findings on the 2021 F1 budget cap until Monday.
News of the verdict was expected today, with Red Bull and Aston Martin facing unproven allegations they breached last year’s $145m (£115m) budget, although Christian Horner insists he is “absolutely confident” in Red Bull’s presentation.
However, as the clock struck midnight in Japan, where drivers and teams are preparing for this weekend’s Japanese Grand Prix, F1’s governing body confirmed it has 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.”
Max Verstappen could be a two-time world champion on Monday – he will claim the 2022 Drivers’ Championship if he wins and sets the fastest lap at Suzuka.
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 5:04 pm
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F1 news: Full statement from the FIA…
“The FIA advises that the conclusion of the analysis of the 2021 financial submissions of the Formula 1 teams and the subsequent publication of the Financial Regulation compliance certificates will not take place on Wednesday 5 October.
“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.
“The Financial Regulations were unanimously agreed by all competitors, who have worked positively and collaboratively with the FIA Head of Cost Administration during this first year under the Financial Regulations.
“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: 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: 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 happens: for me, Toto…