BREAKING Aston Martin imposed with heavy fine after cost cap breach in 2021 F1 season Notifications New User posted their first comment this is comment text Approve Reject & ban Delete Logout

BREAKING Aston Martin imposed with heavy fine after cost cap breach in 2021 F1 season

Aston Martin has been imposed a heavy fine for their procedural cost cap breach Ahead of the Mexican GP this weekend, Aston Martin have been fined $450,000 for 12 cases of "incorrectly excluded and/or adjusted costs" in their 2021 F1 budget cap submission. The punishment has been decided in the form of an Accepted Breach Agreement between Aston Martin and the FIA. made administrative errors. The FIA says that Aston Martin failed to file accurate full-year reporting documentation. In the ABA issued by the FIA, it said: Accepted Breach Agreement between AMR GP Limited and the FIA for breach of the 2021 FIA Formula 1 Financial Regulations

Accepted Breach Agreement between AMR GP Limited and the FIA for breach of the 2021 FIA Formula 1 Financial Regulations The Cost Cap Administration that: notwithstanding the CCA’s determination of Procedural Breach, AMR’s Relevant Costs during the 2021 reporting period were below the 2021 Cost CapAMR has acted cooperatively throughout the review process and has sought to provide additional information and evidence when requested in a timely mannerthat this is the first year of the full application of the Financial Regulations which are a very complex set of rules that competitors were required to adapt tothat there is no accusation or evidence that AMR has sought at any time to act in bad faith, dishonesty or in a fraudulent manner;nor has it wilfully concealed any information from the Cost Cap Administrationthat AMR did not gain or seek to gain any advantage from the inaccurate exclusions or adjustments of certain costs. In terms of imposing penalties, the ABA said that the team must pay a financial penalty of $450,000 to the FIA. AMR has accepted the imposition of the following sanctions in full and final settlement of the procedural breach: AMR must pay a Financial Penalty of USD 450,000 to the FIA within 30 days of the date of execution of the ABA (Article 9.5 of the Financial Regulations)AMR bears the costs incurred by the Cost Cap Administration in connection with the preparation of the ABA." BREAKING: Aston Martin fined $450K for procedural breach related to 2021 cost capBREAKING: Aston Martin fined $450K for procedural breach related to 2021 cost cap

Where did Aston Martin commit procedural breach

In case, the procedural breach made by the team was in . These were in respect of the new team headquarters that are being built, a new Research and Development tax credit, cost of a new simulator, wind tunnel additional fees, 'certain signing bonus' costs, the use of transferable components, used inventories, service desk costs, the cost of catering services provided to personnel at its factory headquarters, the cost of desks and chairs, unrecorded costs and losses in respect of the cost of services rendered by sponsors, and the cost of services rendered by outsourced personnel. and Williams have also been found guilty of the procedural breach, and while received a $25,000 fine earlier in the season, Red Bull have been sanctioned with both financial and sporting penalties. Poll : 0 votes Quick Links More from Sportskeeda Thank You! Show More Comments No thanks Delete Cancel Update Reply ❮ ❯ No thanks Delete Cancel Update Reply ❮ ❯ Be the first one to comment on this story More from Sportskeeda Fetching more content... 1 Logout No Results Found