Oct.29 (GMM) The FIA has officially closed its 2024 cost cap review – confirming that all ten Formula 1 teams stayed within the financial limit, ending intense speculation about alleged overspending by McLaren and Mercedes.
In a lengthy statement, the governing body said the review was “a very thorough and intensive process spanning seven months” and involved “complex technical assessments” across both team and power unit operations.
Ultimately, only Aston Martin was found to have committed a minor procedural breach, after missing a signed document deadline due to “exceptional and unpredictable circumstances.”
The FIA acknowledged that the team acted “cooperatively and in good faith throughout the process” and “no undue advantage” was gained.
No financial or sporting penalties were applied.
Meanwhile, the FIA explained why the annual certification took longer than usual. The Cost Cap Administration said the review was delayed due to the “necessity to perform detailed assessment on complex transactions and cost treatments,” but stressed that all teams and power unit manufacturers “acted at all times in a spirit of good faith and cooperation.”
Nine teams were therefore cleared entirely, and all five power unit suppliers – including Red Bull Powertrains, Mercedes, Ferrari, Renault, and Audi – were found compliant.
The decision finally puts to rest a swirl of rumours in Mexico and Austin that two leading teams – widely speculated to be McLaren and Mercedes – were under investigation for major budget irregularities.