Aston Martin accept €450,000 fine after breaching F1 cost cap rules

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Aston Martin have been fined €450,000 (£388,830) after being found in breach of Formula One financial regulations for the 2021 season.

Motorsport's world governing body the FIA announced earlier this month that an audit determined Aston Martin and Red Bull – who were hit with a €7million (£6.1m) fine on Friday – broke the rules during the 2021 reporting period.

Aston Martin's financial documentation claimed their costs were under the budget cap, but the team was found to have misrepresented their outgoings.

In a statement, the FIA revealed Aston Martin "incorrectly excluded and/or adjusted costs" relating to the construction of their "new headquarters, new F1 simulator, wind tunnel fees, R&D tax credit, a signing bonus cost, use of transferable components, used inventories, service desk costs, cost of catering services at their headquarters, costs of desks and chairs, sponsor services and outsourced personnel services".

Aston Martin subsequently entered into an Accepted Breach Agreement (ABA) with the FIA, meaning they must pay a fine within 30 days and reimburse costs incurred by the administrators who conducted the financial review.

Announcing the ABA, the FIA said: "The Cost Cap Administration recognised that AMR [Aston Martin] has acted cooperatively and in good faith throughout the review process and has sought to provide additional information and evidence when requested in a timely manner, that this is the first year of the full application of the Financial Regulations and that there is no accusation or evidence that AMR has sought or obtained any undue advantage as a result of the breach."

With Aston Martin entering an ABA, there is no possibility for the team to appeal their fine and the matter is now closed.