The FIA has fined Williams Grand Prix Engineering Limited, which runs the Formula 1 team of the same name, for violating section 5.1 of the financial regulation.
Budget restrictions in Formula 1 have been in place since last year – in 2021 each team was not allowed to spend more than $145 million a year. A full financial statement of all expenses for the last fiscal year, which ended on December 31, 2021, must be submitted by the teams by March 31, 2022 at the latest.
Williams was late with the deadline for submitting his reports, after which the FIA Cost Control Office (CCA) opened proceedings against the team on April 12, 2022. Three days later, on April 15, Williams acknowledged the violation and began working with CCA to remedy the situation.
In response, on May 19, the team was asked to sign an agreement requiring Williams to release all violations by May 31, pay a $25,000 fine and pay all costs incurred by CCA in the course of the case.
Williams complied with all the conditions and today the FIA issued an official statement confirming it has no more claims against the team.
Source: F1 News
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