Emirati icon Ben Sulayem guides FIA to financial turnaround
The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, announced a pivotal turnaround in its financial health under the leadership of FIA President and Emirati motor sport legend Mohammed Ben Sulayem.
At the end of the fiscal year 2024, the Fédération reported that is has achieved a robust operating result of €4.7m, and an operating income of € 182.0m. This takes it from a considerable financial loss of €-24.0m in 2021, before Ben Sulayem was elected.
In line with Ben Sulayem's manifesto pledge, and under the FIA's new leadership since 2021, the organisation has undergone a comprehensive strategic transformation process, designed to radically improve internal systems and processes.
It has strengthened its teams, optimised its working practices and shifted to a more efficient and financially sustainable model. Today's result, which will be published in full in the FIA's 2024 Activity Report in June, reflects this positive transition.
'Upon my election as President of the FIA, I committed to ensuring a profitable operation,' said Ben Sulayem, who won 14 Middle East Rally Championship titles in his career.
'Today, I am incredibly proud to show that we have achieved this mission, delivering the strongest set of financial results in eight years.
'Improving the governance, transparency and financial health of the FIA was central to my manifesto pledge, and I will continue to work with all of our internal and external stakeholders to drive positive change within the FIA, to deliver better outcomes for our Member Clubs, our people and for all.'
The FIA, which is a not-for-profit organisation, is well-placed to continue pushing forward its core objectives such as strengthening grassroots participation in motor sport and driving the sustainability agenda across the board.
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