By Madeline Coleman Formula One’s governing body determined the team committed a ‘minor overspend’ last season against the $145 million cap. After paddock rumors of potential cost cap violations last season continued to brew in recent weeks, the FIA announced Red Bull is considered to have committed a “procedural breach” and a “minor overspend” in 2021. The FIA has not yet determined what the punishment will be for breaching last season’s cap. Red Bull released a statement in wake of the announcement, saying, “We note the findings by the FIA of ‘minor overspend breaches of the financial regula…