Red Bull fined £6MILLION and handed testing restrictions after overspend but Max Verstappen will KEEP F1 world title

RED BULL have accepted the FIA's breach offer for breaking F1's £114million cost cap last season.

Team boss Christian Horner has been in deep negotiations with the FIA President Mohammed Ben Sulayem over the long-running saga, which has spanned across four races.

Red Bull will be fined £6million and issued a sporting penalty in the form of a limitation of their ability to conduct aerodynamic testing.

An FIA statement said: "Following the submission of all required documentation by all ten Formula One Teams, the Cost Cap Administration carried out the first ever Review process under the FIA Formula One World Championship Financial Regulations.

"These new Financial Regulations are a very complex set of rules that competitors were required to adapt to for the first time. 

"Red Bull Racing was found to be in breach, however, the Cost Cap Administration recognised that Red Bull Racing has acted cooperatively throughout the review process and has sought to provide additional information and evidence when requested in a timely manner, that this is the first year of the full application of the Financial Regulations and that there is no accusation or evidence that RBR has sought at any time to act in bad faith, dishonestly or in fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration. 

"In these circumstances, the Cost Cap Administration offered to RBR an ABA to resolve this matter. That offer was accepted by RBR.

"An Accepted Breach Agreement (“ABA”) dated 26 October 2022 was therefore entered into by and between the Cost Cap Administration and Red Bull Racing pursuant to Article 6.28 of the FIA Formula 1 Financial Regulations (“Financial Regulations”)."

While it means the matter is now closed, Red Bull's rivals are still furious they have not received a stricter punishment.

Teams were pushing for harsher penalties which would have had a deeper impact on the Red Bull's potential in the future, with some seeking sanctions that could affect them up until 2026.

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Red Bull however, were adamant all along that their submission was BELOW the cap when they filed it in March.

They claim that amendments made to the rules post-submission have seen their costs escalate.

They also say they included a tax overpayment of £1.4million, plus they incorrectly included a total canteen bill of £400,000 for staff, rather than accounting for those only associated with the production of their F1 cars.

Other sticking points include staff being placed on "special projects" away from their F1 operation but not on gardening leave as the hybrid role fell into the cap.

Plus sick pay was also included and a contributory factor.

While he has signed the agreement, Horner will outline his team's position in a press conference in Mexico on Friday.