Red Bull Racing was ordered to pay $7 million to the International Automobile Federation (FIA) on Friday due to a minor financial violation committed during the Formula One 2021 season won by Dutch driver Max Verstappen.

According to the FIA, Red Bull Racing exceeded the £114 million ($132 million) cost limit by £1.86 million ($2.2 million).

In its statement, Formula One stated: "In the summary, it was revealed Red Bull exceeded the 2021 Cost Cap of £118,036,000 by less than 5% (£1,864.000 or 1.6%), which is a minor breach. Regarding sanctions, Red Bull must pay $7 million to the FIA within 30 days of the date of execution of the ABA (Accepted Breach Agreement)."

The statement added that "they also receive a minor sporting penalty in the form of 10% reduction in their allocated Restricted Wind Tunnel Testing and Restricted Computational Fluid Dynamics (CFD) limits." 

Red Bull's Verstappen, who already took home the first-place prize of the 2022 Formula 1 title in Japan, won his first Formula One title in 2021 after defeating Mercedes' British racer Lewis Hamilton in a historic final round of the 2021 Abu Dhabi Grand Prix. 

The Red Bull team is now in Mexico City for Sunday's Round 20 of the Grand Prix; this year's final 22nd round of the Formula One World Championship will end in Abu Dhabi on November 20.