Red Bull has been fined and handed a reduction in wind tunnel time as a result of breaching the 2021 Formula 1 Financial Regulations.

The team’s punishment has been confirmed by the FIA, ending weeks of speculation after the squad failed to obtain its Certificate of Compliance for last season.

As previously reported, Red Bull was found to have inaccurately reported £5.6 million in its submission, resulting in an overspend of £1.864 million.

That has translated into a fine of $7 million, payable within 30 days, with the addition of a ‘Minor Sporting Penalty’.

For the next 12 months, Red Bull will have its Restricted Wind Tunnel Testing and Restricted Computational Fluid Dynamics limits reduced by 10 percent.

Having finished second in the constructors’ championship last year, the squad was already limited to just 70 percent utilisation anyway.

The 10 percent reduction brings that figure down to 63 percent.

In the announcement of the penalty, it was noted that Red Bull was cooperative throughout, and did not attempt to conceal information.

Furthermore, it was recognised that, but for the treatment of tax credits, the overspend figure would have been just £432,652.

“The Cost Cap Administration recognised that RBR has acted cooperatively throughout the review process and has sought to provide additional information and evidence when requested in a timely manner, that this is the first year of the full application of the Financial Regulations which are a very complex set of rules that competitors were required to adapt to and that there is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration,” the statement announcing the penalty noted.

“The Cost Cap Administration considered it appropriate, in these circumstances, to offer to RBR an ABA to resolve this matter on the terms set out below, given the limited nature of the Procedural Breach in issue and the fact that the Minor Overspend Breach falls at the lower end of the <5% minor overspend range, and RBR’s willingness to accept the breaches and to cooperate with the Cost Cap Administration.

“That offer was accepted by RBR.”

Red Bull will also bear the cost of the Cost Cap Administration process in preparing the Accepted Breach Agreement.