The FIA has completed its 2023 financial compliance review, noting all F1 teams met standards, though procedural issues led to penalties for Alpine and Honda.
The FIA confirms that its Cost Cap Administration (CCA) has now completed its review of the documentation for the period ending December 31, 2023, submitted by each F1 team participating in the 2023 FIA Formula One World Championship and by each Power Unit (PU) manufacturer registered to supply the new generation of PU to be introduced from 2026.
2023 marks the third year of implementation of the Financial Regulations for F1 teams and the first year for PU manufacturers.
The review of the documentation was a comprehensive and intensive process spanning five months, with all F1 teams and PU manufacturers providing full support by supplying the required information.
The CCA notes that all F1 teams and PU manufacturers have acted at all times in a spirit of good faith and cooperation throughout the process.
The findings of the review are as follows:
F1 teams review process results:
All 10 F1 teams were deemed compliant for 2023.
Power Unit manufacturers review process results:
— 4 PU manufacturers were deemed compliant for 2023, and procedural shortcomings were identified for Alpine Racing SAS and Honda Racing Corporation (HRC).
— The CCA confirms that although both Alpine Racing SAS and HRC were found to have procedural shortcomings, neither exceeded the cost cap level. Both Alpine Racing SAS and HRC have acted in good faith at all times and are currently cooperating with the CCA to finalize the matter.
— Given the nature of the shortcomings, the complexity of the new financial regulation for PU manufacturers, and the challenges associated with its first year of implementation, the CCA intends to propose to these two PU manufacturers to settle their respective shortcomings through an Accepted Breach Agreement (ABA).
— A summary of this agreement, if accepted by these two PU manufacturers, will be published once finalized as stipulated by the financial regulation.
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Alpine, Honda Face FIA Penalties Despite Compliance Alpine, Honda Face FIA Penalties Despite Compliance
