Red Bull Formula 1 Team Taking Max Verstappen to the drivers’ championship in 2021, he spent £230 million but exceeded the budget ceiling.
The team’s spending in 22 seasons was It is £10 million higher than in 2020 and £7 million less than in the 21-race 2019 Championship, which was held at 17 races.
Red Bull found itself above the FIA’s new budget cap in 2021. The FIA ordered the team to pay a £6m fine in October, £1.864m more than the £118m ($145m) payout. Red Bull’s aerodynamic testing allocation has also been cut.
The budget ceiling applies to certain expenses and excludes marketing, travel, accommodation, driver and executive salaries, and certain other expenses. The FIA has ruled that Red Bull wrongly excluded 13 different items from its bid for the 2021 season.
Red Bull’s F1 operation is set to post a £1.3m profit in 2021, almost double the previous year.
Commenting on the figures, group head Christian Horner said: “The company’s financial position was carefully managed throughout the year. The imposition of financial regulations and related restrictions on costs have forced cost-cutting initiatives in the business. The group has implemented a balanced cost reduction plan to ensure compliance with the new regulations for 2021.
Regarding cost increases, Horner said: “Cost of sales” increases reflect performance payments due to ongoing achievements.
Red Bull won 11 races, nine more than in 2020, in addition to increased title success and profitability.
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