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Williams F1 Team Fined for Breaching Financial Regulations

Williams F1 team has been fined by the FIA for failing to submit its full-year reporting documentation by the deadline of March 31, the sanctioning body announced June 7.

Williams is one of the 10 teams in the open-wheel racing series that must abide by a $140 million spending limit introduced by the FIA at the beginning of 2022.

The fine of $25,000 was handed to the team after it had been entered into the accepted breach agreement following the miss of the deadline.

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“Having considered Williams’ explanation, and given in particular that the Procedural Breach was voluntarily disclosed by Williams in advance of the full year reporting deadline of March 31, 2022, and Williams has been fully cooperative in seeking to remedy the breach, the Cost Cap Administration deemed it appropriate to offer Williams an ABA resolving the breach on the terms set out below,” a spokesperson for the FIA said in a statement. “That offer was accepted by Williams.”

As of the Monaco Grand Prix, Williams sits last in the constructors standings with three points, with driver Alex Albon having earned all of them.

About the author

Dalton Hopkins began writing for Frontstretch in April 2021 after writing for IMSA. A race fan since he was three years old, he began freelance writing in 2018 and graduated with a B.S. in Communications from Embry-Riddle Aeronautical University in 2019. Simultaneously, he also serves as a First Lieutenant in the US Army.

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