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Williams fined for financial rules breach

Nicholas Latifi (CDN) Williams Racing FW44. Spanish Grand Prix, Sunday 22nd May 2022. Barcelona, Spain. Credits: Williams Racing.

The FIA have handed Williams a $25k fine for not submitting the full year reporting documentation on time.

Williams became the first team to violate the F1 financial regulations introduced in 2021. The breach itself was not related with the budget cap. Williams did not manage to submit the financial paperwork on time (by March 31st).

The team was notified by the Cost Cap Administration about the issue on April 12th. Three days later Williams admitted that they had broken the rules and revealed the measures taken in order to prevent the violation. Furthermore, they were determined to remedy the breach.

As a result, the FIA and Williams entered into an Accepted Breach Agreement. The team was given a $25k fine, had to submit the papers by 7 p.m. CET of May 31st, and cover the costs spent by the Cost Cap Administration while preparing the ABA.

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