The financial rules of Formula 1 are very strict

The financial rules of Formula 1 are very strict

( – The Aston Martin Formula 1 team has been fined $450,000 for a total of 12 violations of financial regulations in the 2021 season. The FIA ​​announced this on Friday of the weekend in Mexico.

Aston Martin team boss Mike Krack explains the complexity of the financial rules


Among other things, the twelve points deal with the distribution of the costs of the construction of a new factory, a new Formula 1 simulator, fairway fees, a signing bonus for an unnamed new employee, or the evaluation of relocation costs. components, catering or furniture used.

The FIA ​​recognizes as mitigating circumstances, among other things, that Aston Martin remained below the limit in general, cooperated fully during the investigation, there was no evidence of intentional fraud and no attempt was made to obtain any sporting benefit by hiding costs.

Krack: “The agreement is not in our favor”

Team boss Mike Krack justifies the twelve mismatches by saying that financial regulations are more complicated than outsiders might think. He admits that he has read the rules himself, but did not understand everything, which is ultimately the responsibility of the financial experts at Aston Martin.

“I don’t know the law, have you really read it, it’s an argument,” he says. “And that’s about how we interpret the regulations? And there were different points where we saw that, but in the end the FIA ​​saw it differently.”

“Then we discussed, but we did not reach an agreement, or rather we reached an agreement, but not on our behalf. And then we had to accept that we will have to do things differently in the future,” he said.

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“That was a list of points that were written by the FIA. Yes, those are the rules. We have to do better in the near future, we have to focus and then it’s not an issue anymore,” says the Aston Martin team. the boss.

When asked if he has read the law himself, Krack explains: “Of course! I think it would be good if I read it. I read it too, but I didn’t understand everything, I must say honestly. [Natürlich haben wir eigene Finanzexperten]but of course you should also know a little about what it’s about.”