Alpine and Honda face FIA penalties following procedural errors in financial reporting under strict new budget regulations for power unit suppliers.
The FIA has announced financial penalties for Alpine F1 and Honda following procedural breaches of the Financial Regulations for power unit suppliers. Both manufacturers have signed an Accepted Breach Agreement (ABA), a formal admission of a breach of regulations.
The budget cap administration offered this agreement as both manufacturers demonstrated cooperation and acted in good faith in response to their errors, according to the FIA. The federation confirmed that they provided the requested evidence and information promptly upon the administration’s request.
In both instances, the budget cap administration acknowledged that “2023 marked the first year of applying the Power Unit Financial Regulations, a complex set of rules to which manufacturers must adapt.”
Regarding both manufacturers, administrators noted there was no bad faith involved in these breaches, nor did the infractions result in any competitive advantage. Additionally, taking the procedural discrepancies into account, both manufacturers remained within the budget cap.
The infractions relate to declaration errors concerning exclusions and certain expenditure adjustments. For Honda, the issues pertain to Articles 8.1 and 8.2(e) of the Financial Regulations for power unit suppliers, while Alpine also breached Article 8.2(d).
While Honda misreported necessary documentation in its declarations, Alpine’s issue primarily concerned the timing of their submissions. As a result, the French manufacturer has received a lighter penalty than its competitor.
Alpine has been fined $400,000, while Honda faces a $600,000 penalty. Both brands will also bear the procedural costs associated with establishing the agreement.
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Alpine – Honda Hit with Fines Over FIA Budget Cap Breaches Alpine – Honda Hit with Fines Over FIA Budget Cap Breaches
