Christian Horner has come out strongly against the rumours this morning. He doesn't sound like a man who's about to be indicted in a massive cheating scandal. Though I could be wrong, of course.
I would say there is some confusion between Red Bull spending and Red Bull Power Trains (which are exempt), which is being cleared up. Somehow this has leaked, and the ever odious Wolff has jumped on it and it's blown up into a big story in the media.
At least we will find out on Wednesday. I was looking forward to this race weekend, but now this seems to be the dominating issue, and stirred up the usual toxic elements of the F1 fanbase, which is all so tiresome.
If Red Bull are found guilty though, the FIA will be in a very difficult position, as there's no clear sanction process, just a long list of possibilities.