F1 qualifying LIVE: Lewis Hamilton targets first pole of 2022 at Mexican Grand Prix

Charles Leclerc emerged unscathed after a heavy crash during practice at the Mexican Grand Prix, with George Russell posting the fastest time in the second practice.

But the Monegasque grabbed the headlines after losing control at the Esses before spinning backwards into the barrier. The collision prompted an end to the session and triggered a red flag for the barrier repairs.

Russell was one of five drivers to use the soft tyres, with the rest of the grid trialling next year’s Pirelli compound. The Briton finished ahead of Yuki Tsunoda and Esteban Ocon, with Lewis Hamilton, who did not use the speediest rubber, fourth.

Russell finished eight tenths faster than Ferrari’s Carlos Sainz, who posted the quickest lap in the opening running of the weekend at the Autodromo Hermanos Rodriguez in Mexico City.

Earlier in the day, Sainz led Leclerc in a Ferrari one-two, but the day turned sour for the Italian team when Leclerc spun out of the second session. Leclerc lost control of his Ferrari under braking for the left-hander Turn 7, sliding backwards through the run-off area and into the tyre barrier.

The Monegasque was unharmed in the accident, but his Ferrari team face a major overnight repair job to ensure his car is ready for practice on Saturday lunchtime, with qualifying to follow shortly after.

Red Bull have been fined $7m by the FIA and been given a 10% reduction in car development time for breaching the 2021 Formula 1 budget cap – meaning Max Verstappen will not be stripped of his first world title.

The team have now come to terms with an ‘Accepted Breach Agreement’ (ABA) with the FIA, with the penalty announced on Friday afternoon. The overspend from Red Bull was revealed to be £1.864m, with the FIA acknowledging that the breach would have been £432,652 if a tax credit had been correctly applied.

Red Bull could have challenged the FIA’s decision, with their case heard by independent judges in the Cost Cap Adjudication Panel, but that ran the risk of a harsher punishment and a potential loss of Championship points.

The ABA emphasises: “There is no accusation or evidence that RBR [Red Bull Racing] has sought at any time to act in bad faith, dishonestly or in a fraudulent manner, nor has it wilfully concealed any information from the Cost Cap Administration.”

Red Bull exceeded last year’s £114million budget cap in a year when Verstappen controversially beat Lewis Hamilton to the world title on the final lap in Abu Dhabi. Horner said in Austin he was “shocked and appalled” that McLaren boss Zak Brown accused his team of cheating and said the insinuation has led to children of Red Bull staff being bullied at school.

The FIA confirmed in Mexico City on Friday that Red Bull – the team which carried Verstappen to the most contentious title in the sport’s history – overspent by £1.86m. Red Bull have entered into a so-called Accepted Breach Agreement (ABA) with F1’s governing body. In addition to the fine, Red Bull have had their wind tunnel time reduced by 10 per cent over the next 12 months – a punishment Horner called “draconian” and claimed will cost his team up to half-a-second in lap time.

The ABA – which ensures Red Bull lose any right to appeal – avoids the team risking a harsher punishment which might have included the deduction of points and Hamilton being instated as last year’s title winner.

Hamilton was denied a record eighth world crown when former race director Michael Masi fudged the safety car rules at the season finale in Abu Dhabi. Verstappen took the title by eight points. McLaren boss Zak Brown wrote to FIA president Mohammed ben Sulayem earlier this month to say a financial breach “constitutes cheating”.

However, the FIA concluded that Red Bull “did not act in bad faith, dishonestly or in a fraudulent manner” when it broke the £114m budget cap.

“I don’t think it has overshadowed Max’s achievements,” said Red Bull team principal Horner. “Inevitably there was so much noise about last year’s championship anyway. And when this comes up and you hear about it for the first time in Singapore and all the noise comes again.

“But Max Verstappen won last year’s world championship fair and square. He did what he had to do on the day. He did his job. The team did our job. He won the race. He is the world champion. What we are talking about here had no effect whatsoever on the performance of his car last year.”