FIA Confirms Compliance Among F1 Teams for 2024 Cost Cap
The FIA has officially confirmed that nine out of ten Formula 1 teams adhered to the 2024 cost cap regulations, with Aston Martin alone cited for a procedural breach classified as “very minor.”
Aston Martin acknowledged its shortfall in submitting audited financial accounts by the March 31 deadline, attributing the delay to extenuating circumstances. However, they submitted unaudited accounts on time and did not exceed the cost cap limit. The team subsequently entered into an Accepted Breach Agreement (ABA) with the FIA in September.
Speculation over potential breaches by other teams arose due to delays in confirming compliance. The FIA attributed this to the intricate nature of the review process, which now also encompasses financial regulations for the 2026 power unit manufacturers, extending the assessment duration beyond previous years.
“The review of the Reporting Documentation was a very thorough and intensive process spanning seven months,” the FIA stated. They emphasized that the process was time-consuming due to the complexities of the Financial Regulations and necessary technical assessments of development activities undertaken by the teams.
The FIA commended the cooperation from all teams and power unit manufacturers, noting, “all F1 teams and all PU manufacturers acted at all times in a spirit of good faith and co-operation throughout the process.”
The cost cap, which was introduced in 2021, aims to ensure the long-term viability of the championship and promote competitive balance among teams, enhancing the quality of racing. The current reporting period concludes on December 31, 2024, with accounts due for submission three months thereafter.
Additionally, all five power unit manufacturers—Mercedes, Ferrari, Red Bull Powertrains, Honda, and Audi—were confirmed to be in compliance with the relevant financial regulations.
