F1: Red Bull found guilty of breaching cost cap in 2021

FIA, however, is yet to announce how they would go about handling the breaches of Aston Martin & Red Bull.

Formula1's governing authority, the FIA, released a statement on Monday confirming that all teams except Red Bull, Aston Martin & Williams have received their compliance certificates. The Williams F1 team's breach was in reference to the late submission of files last year, for which they have already been fined.

Aston Martin was found to have been guilty of a procedural breach. There was no overspending, as the review indicates, and the "procedural breach" was said to be related to a number of administrative accounting protocols.

However, Red Bull is said to have been found guilty of not only a procedural breach but a minor cost cap breach as well. The FIA's statement comes despite Red Bull's confident belief that their financial submission was comfortably under the cost cap limit set for the 2021 season.

FIA, however, is yet to announce how they would go about handling the breaches of Aston Martin & Red Bull.

The regulations, though, lay out a wide range of options as punishment. As per these regulations, penalties for a minor breach (less than 5% overspend) include a public reprimand, deduction in constructor's or driver's championship points, exclusion from events, limitations on aero testing or a fine amount.

Source: Motorsport.com