Mourning Red Bull suspends cost cap talks with FIA

Amid the mourning of Red Bull co-founder Dietrich Mateschitz, Red Bull Racing has temporarily suspended its Cost Cap settlement talks with the FIA.

Red Bull has been charged by F1's governing body with overspending in 2021 beyond its $145 million mandatory limit.

Qualified as 'minor', the breach implies an overspend of maximum $7.5 million, although the amount identified by the governing body during its audit is reported to be estimated at somewhere between $1.5 and $2 million.

Red Bull has been offered by the governing body an Accepted Breach Agreement by which the team would recognize its fault and accept the sanction imposed by the FIA while waving its right to appeal.

However, it is believed that the two parties remain at odds over the interpretation of the regulations or the qualification of specific expenditures.

Therefore, negotiations were ongoing with Red Bull likely hopeful of reaching an acceptable settlement.

But the passing of Dietrich Mateschitz on Saturday has left Red Bull Racing in mourning and understandably compelled the team to temporarily suspend its talks with the FIA.

"Following the passing of Mr Mateschitz, all conversations with the FIA around Cost Cap and next steps are on hold until further notice," said Red Bull in a short statement released on Sunday.

"The deadline for agreement has been extended and we expect talks to pick back up middle of the week."

• Read also: Tributes pour in for Red Bull's Dietrich Mateschitz

Speaking on Saturday prior to the news of Mateschitz's passing, Christian Horner expressed his confidence in reaching a agreement with the FIA in the coming days.

However, the Red Bull team boss also warned that the matter could drag on for months on end if no settlement is reached.

"The next process, it goes to the cost cap administration panel, and then beyond that, there's the International Court of Appeal," said Horner.

"So it could draw it out for another six, nine months, which is not our intention. We want closure on 2021. I think that we've had some healthy and productive discussions with the FIA.

"I'm hopeful of being able to reach a conclusion in the near future."

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