Aston Martin fined for Procedural Breach

Aston Martin committed a Procedural Breach of the 2021 Financial Regulations

Aston Martin has been fined almost $500,000 for its Procedural Breach of last year’s Formula 1 Financial Regulations.

It was one of three teams that did not receive a Certificate of Compliance earlier this month, along with Red Bull and Williams.

The latter was also found to have made a Procedural Breach earlier in the year, for which it was fined $25,000, while Red Bull committed a Minor Breach with a £1.864 million overspend.

In Aston Martin’s case, it has been handed a $450,000 fine for inaccurately reporting its financial details courtesy of an Accepted Breach Agreement.

The Silverstone-based team was found to have incorrectly excluded or adjusted for costs associated with the construction of its new factory, simulator, wind tunnel fees, and catering, among others.

Even still, the team’s total spend for 2021 was below the cost cap, with the FIA noting that “there is no accusation or evidence that AMR has sought at any time to act in bad faith, dishonesty or in a fraudulent manner.”

“The Cost Cap Administration considered it appropriate, in these circumstances, to offer to AMR an ABA to resolve this matter on the terms set out below, given the limited nature of the breach in issue, and AMR’s willingness to accept the breach and to cooperate with the Cost Cap Administration. That offer was accepted by AMR,” the FIA summary confirmed.

The $450,000 fine is payable within 30 days with Aston Martin also responsible for the costs associated with the ABA process.

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