'Red Bull calls press conference to address cost cap breach'

Red Bull Racing is currently the target of much speculation surrounding the budget cap issue the team is embroiled in with the FIA. Meanwhile, the governing body is said to have made a proposal to Red Bull for a mutual agreement, but it is not yet clear whether the team will accept the offer. More clarity on that may come on Friday.

Sky Sports reports that Red Bull has called a press conference on Friday morning (local time) to shed light on the budget cap issue. More may become clear at that time about the seriousness of the breach and whether Red Bull will take up the FIA's offer, but nothing is yet certain.

What is clear is that Red Bull is keen to put an end to the wild speculation circulating. For instance, Adrian Newey's salary became the centre of controversy, but the team denies that this is a factor. Moreover, Red Bull submitted a budget that would be under the budget cap, so the FIA's verdict came as a nasty surprise for the team. Meanwhile, rival teams are calling for tough measures, despite the fact that no details have yet been disclosed about the case.