The FIA has made public the failure of the Williams team to comply with the financial regulations. Both parties have reached an agreement by which the British group has been fined $25,000.
The budget limit and its corresponding financial regulation have already claimed their first victim, although it is not the one that many expected. Amid intense debate over the appropriateness of an expansion of the spending limit as a result of inflation, the FIA has announced that one of the teams on the grid has breached the regulations.
But it is not Mercedes, Red Bull or Ferrari, who claim that they will be unable to do so this year, but Williams. And in reality it is not an excess of spending, but rather a formal defect when presenting the documentation required to justify the expenditure made during the 2021 season.
As reported by the FIA itself, Williams has breached article 8.2 (e) of the Financial Regulations, incurring a procedural violation of the same. This is due to the failure to submit the complete documentation before the deadline of March 31, 2022, as provided in article 5.1 of the aforementioned financial regulation.
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“On April 12, 2022, Williams was notified by the budget cap administration that he had committed a procedural violation.. On April 15, 2022, Williams responded to the notification by accepting that he had committed a procedural breach and explaining the measures he had taken to try to avoid that breach, “notes the FIA.
The FIA has taken into account the predisposition of Williams to solve the error and collaborate in clarifying the facts, so the final agreement has been as follows:
- $25,000 financial penalty within 30 days from the date of resolution of the case.
- Payment of costs incurred by the budget cap administration.
With this resolution, and provided that Williams meets both requirements in the established time and manner, the case is considered closed.
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Photos: Williams Racing