Red Bull’s Formula 1 team spent £230 million during 2021, when it took Max Verstappen to the drivers’ championship but also exceeded the budget cap.
Red Bull was found to have exceeded the FIA’s new budget cap during 2021. The FIA ruled in October it exceeded the £118m ($145m) cap by £1.864m and ordered the team to pay a £6m fine. Red Bull’s aerodynamic testing allocation was also cut.
The budget cap applies to specific expenses and does not include marketing, travel, accommodation, salaries for drivers and top executives plus some other costs. The FIA ruled Red Bull incorrectly excluded 13 separate items from the costs it submitted for the 2021 season.
Red Bull’s F1 operation made a profit of £1.3 million during 2021, almost twice what it made the year before.
Commenting on the figures, team principal Christian Horner said: “The financial position of the company was carefully managed through the year. The imposition of Financial Regulations and the associated cap on relevant costs has necessitated cost-saving initiatives across the business. The group have implemented a balanced cost reduction plan to ensure compliance with the new regulations for 2021.”
Regarding the rise in expenditure, Horner said: “Increase in ‘cost of sales’ reflect performance payments attributable to on-track successes”.
In addition to title success and increased profits, Red Bull won 11 races, nine more than it had in 2020.
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