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 – and Jean Todt has now agreed to set up a ‘task force’ to that end.
A statement today underlined that the FIA will get more money from the new Concorde Agreement. “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.”
The 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 promised to establish a commission to discuss the matter. He acted quickly because this afternoon the FIA confirmed: “The members of the WMSC congratulated the FIA President for the successful and favourable conclusion to the negotiations. The members also accepted his proposal to create a new task force, after the FIA Presidential Election, charged with proposing the allocation of the additional financial resources for the FIA and its membership”.
Meanwhile presidential candidate David Ward said earlier: “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.”David Ward, Formula 1, Jean Todt