F1 News: FIA offer Red Bull "accepted breach agreement" for cost cap breach

New developments on Red Bull's budget cap breach.

New information has emerged regarding the FIA's response to Red Bull's breach of the budget cap for the 2021 F1 season. 

There has been heavy speculation on what punishment Red Bull will receive for exceeding the budget cap last year, considering that no specific penalty has been outlined for committing such a transgression. 

Red Bull's breaches of the cap were categorised as "procedural and minor overspend", meaning that the Austrian squad exceeded the cap by less than 5%. 

Regardless, several rivals on the grid have argued that even slightly exceeding the budget cap can have significant consequences, with Zak Brown and Toto Wolff among the most vocal on this issue. 

Another factor is whether the FIA's punishment will be significant enough to deter other teams from overspending in the future and thus emphasise the seriousness of F1's newly implemented budget cap. 

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The BBC's Andrew Benson has provided the following update on the situation: 

"The FIA has made an offer to Red Bull for the terms of an 'accepted breach agreement' for them breaching the cost cap. Details, as with all issues on the matter, are confidential for now.

"Now Red Bull have to decide whether to accept or go before an adjudication panel."

Whilst this update is undoubtedly significant, it ultimately creates more questions than answers surrounding the Red Bull budget cap situation. 

There is no clarity on what penalty the FIA has decided, although this will likely become public information tomorrow - when Red Bull hosts a press conference on the matter.

It also appears that Red Bull could take steps to dispute the FIA's decision, suggesting that this saga could continue unsettled for some time. 

Red Bull has previously described the findings of the FIA as a "surprise", revealing in a public statement last week that the team will "consider all options available."

More details on the situation will emerge tomorrow, which will profoundly impact the F1 championship - both in the short and long-term.