How will the FIA spend its Concorde cash?

The FIA’s confirmation that the new Concorde Agreement will bring in extra funds has put a focus on how that money will be used by the governing body.

A statement today said: “This agreement provides the FIA with significantly improved financial means to pursue its regulatory missions and to reflect the enhanced role undertaken by the FIA in the Motor Sport [sic].”

Jean Todt’s plans for those funds are a subject of great debate within the FIA, not least because after six years the “McLaren money” – generated from the team’s infamous 2007 Spygate fine – will no longer be available for grass roots funding.

Todt is believed to be planning to split it between sport and mobility, with a further sum allocated to developing a new FIA HQ in Switzerland. That proposed division has apparently not gone down well with those who believe that the cash should be ploughed back into the sport.

In the World Motor Sport Council today a member brought the subject up, and Todt apparently promised to establish a commission to discuss the matter.

Meanwhile presidential candidate David Ward said today: “The question now is what will the new resources from Concorde be used for? The answer should be for investment in ‘grass roots’ development of motor sport.

“In my manifesto I have proposed to ‘use all the revenue in excess of regulatory costs of the F1 Championship for investment in motor sport safety, sustainability, solidarity funding of ASN development programmes, and for training of officials and volunteers.

“Jean Todt has yet to publish a manifesto or explain how he will use the new funds now available to the FIA. Sooner rather than later this should be made clear to the FIA membership.”

1 Comment

Filed under F1 News, Grand Prix News

One response to “How will the FIA spend its Concorde cash?

  1. Brace

    Still can’t believe that with all the money being generated by F1 and few other top motorsport categories, marshals are still expected to work for free. It’s criminal.
    They should be payed fairly for the work they are putting in.

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