Red Bull Racing has been fined $7 million (£6.07m) for breaking the Formula 1 cost cap in 2021 during Max Verstappen’s first world championship season.

The team had overspent the £114m cap by £1.86m, documents released today confirm, a breach the FIA, motorsport’s governing body, has labelled as “minor”.

The Milton Keynes-based team has also been given a 10% cut in their permitted aerodynamic testing over the next 12 months. It must also pay the costs of the investigation.

This is a breaking news story. More to follow.

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