The FIA has reportedly submitted to Red Bull Racing an Accepted Breach Agreement to settle the team's transgression of F1's financial regulations in 2021.
Upon the completion of its analysis and audit of the accounts of all ten teams competing in Formula 1, the FIA found Aston Martin and Red Bull guilty of procedural breaches of the sport's cost-cap rules.
However, the Milton Keynes-based outfit was also charged with a minor overspend of its $145 million imposed budget.
In line with F1's financial regulations procedure, the FIA has submitted to Red Bull an ABA which details the breach and the associated penalty levied upon the team.
Should Red Bull accept the ABA, it would implicitly recognize its fault and accept the sanction with no right to an appeal.
If Red Bull is not in agreement with the FIA's proposal, the team can argue its case in front of the Cost Cap Adjudication Panel, where lawyers will assess its merits and eventually decide the sanctions that shall be applied.
The FIA's delay in announcing a settlement with Red Bull could be interpreted as a sign that the Milton Keynes-based outfit is opposing the governing body's ABA.
According to a report from Autosport, Red Bull's breach is believed to be around $1.8 million, or well under the $7.5 million limit that constitutes a minor breach.
If true, the matter could potentially be settled with a fine imposed by the FIA of double the amount of overspend, or $3.6 million.
However, several teams, including Mercedes, Ferrari and McLaren have argued that a $1 million to $2 million overspend on development could have been worth non-negligible gain in lap time for Red Bull, which in turn could justify a sporting penalty in addition to a financial sanction.
Ahead of this weekend's US GP at COTA, it was rumored on Thursday that Red Bull team boss Christian Horner will call a press conference on Friday morning to address his team's cost-cap saga with the FIA.
So far, Horner has been adamant that the team's accounts and its level of spending in 2021 were well in line with F1's financial regulations.
Update:
According to Autosport's Adam Cooper on Twitter, a planned meeting at COTA between Horner and FIA president Mohammed Ben Dulayem did not happen on Thursday night. Horner therefore is unlikely to be taking with the media on Friday morning as initially expected.
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