Aston Martin is one of the teams that reportedly exceeded the budget cap in 2024, the team announced on Thursday. In the lead-up to the Mexico City Grand Prix, reports emerged that two teams may have overspent during the 2024 season. Aston Martin admitted to a ‘minor procedural violation’. The FIA is conducting further investigations and hopes to provide clarity on the finances of the various teams soon.
Typically, the so-called compliance certificates – the documents that prove all participating Formula 1 teams have adhered to the budget cap – are published in September. However, this year the certificates have been delayed. Rumours surfaced this week that two teams may have exceeded the stringent cap in 2024, hence the investigation is taking longer.
Aston Martin subsequently announced that it has now signed an ‘Accepted Breach Agreement’ with the FIA. Reportedly, the situation revolved around the absence of a signature in fully audited documents that were submitted to the FIA before the deadline of March 31 last year. The team cites force majeure and explains that, as soon as the correct signature was available, the documents were resubmitted. Aston Martin kept the FIA fully informed throughout the process, and the submitted amounts remained under the budget cap.
‘Minor procedural violation’
Nevertheless, the absence of the signature was seen as a ‘minor procedural violation’, according to various British sources. Given the circumstances and the fact that the violation was beyond the team’s control, the team was not fined – apart from the incurred administrative costs. The entire case will likely only come to light when the FIA makes a formal announcement about the compliance certificates.
In an official statement, the FIA says it will ‘soon’ provide clarity on the finances of the teams involved. However, as there is still another team suspected of exceeding the budget cap, it may be a long time before actual figures are presented. Reportedly, this second team is not dealing with a ‘minor procedural violation’, but a serious breach of the so-called cost cap. To be continued.
