Red Bull will hold press conference with Horner on budget cap saga

The end of the budget cap saga seems near. Red Bull Racing has officially scheduled a press conference on the Friday before the Mexican Grand Prix. Team boss Christian Horner will explain more about the budget cap issue.

The Formula 1 world has been preoccupied with the budget cap saga for weeks. The FIA recently announced that Red Bull Racing had exceeded the 2021 budget cap. Aston Martin has also broken the rules, but in the case of Sebastian Vettel and Lance Stroll's team, it is only a procedural violation. Red Bull has been found guilty of a minor breach of less than five per cent. Amounts of around two million have been cited.

On Thursday in Mexico, several sources managed to report that the FIA has reached an agreement with Red Bull and Aston Martin on penalties for exceeding the budget cap. The teams have accepted their breach and the consequences. Red Bull is likely to receive a fine and a reduction in wind tunnel time, while Aston Martin will only receive a fine.

The FIA will reportedly make an official announcement on the budget cap penalties on Friday morning. Red Bull has scheduled a press conference with team boss Christian Horner to further explain the matter. The press event will take place at 11:30 am local time in Mexico, so at 5:30 pm UK time, F1 journalist Chris Medland reports on Twitter.