Latest news with #ConcordeAgreement
Daily Tribune
26-05-2025
- Automotive
- Daily Tribune
Ben Sulayem Returns, FIA Presidency Bid
TDT | Manama Mohammed Ben Sulayem, the FIA's outspoken president, has confirmed he'll run for a second four-year term in December's election. Speaking at the Monaco Grand Prix, the 63-year-old Emirati said he's determined to keep growing the sport and bolstering the FIA's influence, even as his first term has stirred plenty of debate. A Mission to Grow Motorsport Ben Sulayem, a former rally driver, insists his work at the FIA is far from done. 'Three years in a complex federation like the FIA is not enough,' he said, reflecting on his tenure since succeeding Jean Todt in 2021. He's proud of turning around the FIA's finances—a €4.7 million profit last year compared to a €24 million loss in 2021—and securing Cadillac as Formula One's 11th team for 2026. But he's not resting on his laurels, vowing to make the FIA 'stronger and stronger.' Controversies and Critics It hasn't been a smooth ride. Ben Sulayem's term has seen clashes with Formula One's commercial rights holder, Liberty Media, over deals he calls 'raw' for the FIA, which owns the championship. His crackdown on driver swearing, with hefty fines, has riled stars in F1 and rallying. Staff departures, including senior figures like Shaila-Ann Rao, sparked talk of an exodus, though Rao's return as an advisor has steadied the ship. Critics also point to statute changes that could curb the FIA's audit and ethics committees, raising questions about transparency. Open to a Challenge With no confirmed rival yet, Ben Sulayem welcomed the prospect of competition, including from twice world rally champion Carlos Sainz, father of the Ferrari F1 driver. 'Let him stand. That is democracy,' he said, brushing off concerns about potential conflicts of interest. The Emirati remains unfazed by detractors, claiming he's 'cleaned up the FIA house' and shrugging off negativity. 'I am the last one who cares what they say,' he added, focused on the FIA's 147 member organizations. Concorde Talks and Future Plans As a new Concorde Agreement between F1 stakeholders nears, Ben Sulayem says negotiations with Liberty Media are on track. His goal is clear: elevate the FIA's clout while expanding motorsport's reach. With the Bahrain Grand Prix a key fixture on the F1 calendar, his regional ties add a layer of influence, but it's his broader vision that will define his campaign. Key Takeaways Ben Sulayem seeks re-election to bolster FIA and motorsport Financial Recovery: FIA's €4.7m profit in 2024 reverses 2021's €24m loss He invites challengers like Sainz, supporting open competition You Know What? Ben Sulayem, the first non-European FIA president, has overseen the addition of Cadillac as F1's 11th team, a move initially resisted by the sport but backed by the FIA's 147 member organizations.
The Hindu
25-05-2025
- Automotive
- The Hindu
F1 — Ben Sulayem declares bid for second term as FIA president
Mohammed Ben Sulayem will stand for a second four-year term as FIA president in December, saying he would welcome any rival candidate and that he is on a mission to grow motorsport and make Formula One's governing body stronger. Speaking to Reuters at the Monaco Grand Prix, the Emirati said he had taken the decision, which was widely assumed, after conferring with members of the International Automobile Federation. 'I feel having three years in a complex federation like the FIA is not enough,' the 63-year-old former rally driver explained, stating his re-election bid openly for the first time. He said he was proud of what had been achieved under his mandate and saw no reason to do anything differently second time around. 'Do I need more time? Yes. Has it been easy? Never. Has it been enjoyable? Sometimes. 'So, I am going (to stand). I consulted with most of the members. I speak to them.' The Emirati said he wanted to 'keep growing motorsport. To make the FIA stronger and stronger. This is my ambition and that's what I will do.'. ALSO READ: Monaco GP qualifying — Norris puts McLaren on pole; Hamilton and Verstappen in fourth, fifth He suggested the FIA, which ultimately owns the Formula One championship although the long-term commercial rights are held by Liberty Media, had been 'neglected'. 'Raw deals have been given to the FIA. It doesn't make sense to me that one (Formula One) driver and one team principal make more money than all of the FIA, and the FIA owns the championship. Is that fair?,' he said. Ben Sulayem's first term has been marked by controversy since he was elected in 2021 as successor to former Ferrari team boss Jean Todt. There have been battles with Liberty Media over commercial matters and accusations of sexism, and he has angered drivers in both rallying and Formula One by clamping down on swearing with heavy fines. Senior staff have left the FIA, leading to reports of an exodus, and there have been questions raised about statute changes that critics say will limit the powers of audit and ethics committees. FIA PROFIT On the plus side, the FIA last week reported a 4.7 million euro ($5.34 million) profit after reporting a loss of 24 million euros in 2021. A new 'Concorde Agreement' between all Formula One stakeholders is being negotiated and both the FIA and Liberty Media say talks are going well. Former FIA secretary general for motorsport Shaila-Ann Rao, one of the high-profile departees, has returned as an advisor to the president, and Cadillac will join as an 11th team in 2026 after FIA backing in the face of initial F1 resistance. ALSO READ: Monaco Grand Prix — Bearman handed 10-place grid penalty 'I cleaned up the FIA house,' said Ben Sulayem, who recognised there were enemies who wanted him out but said that was of no concern. 'Honest people are there. My back is not anymore with knives in it. 'All of this negativity; 'Oh, he's unpredictable, he's very controversial'. I am the last one who cares what they (the critics and media) do, what they say. To me it is always about the (FIA) members. 'But I am more than happy. Maybe I am doing something that irritates them.' No rival candidate has committed to standing against the Emirati, although twice world rally champion Carlos Sainz -- father of the Formula One driver and namesake -- is considering doing so. Ben Sulayem said he would be happy for Sainz to stand and it would be for others to decide on any potential conflict of interest. 'Let him stand. That is democracy,' he said.
Straits Times
25-05-2025
- Automotive
- Straits Times
Motor racing-Ben Sulayem declares bid for second term as FIA president
MONACO - Mohammed Ben Sulayem will stand for a second four-year term as FIA president in December, saying he would welcome any rival candidate and that he is on a mission to grow motorsport and make Formula One's governing body stronger. Speaking to Reuters at the Monaco Grand Prix, the Emirati said he had taken the decision, which was widely assumed, after conferring with members of the International Automobile Federation. "I feel having three years in a complex federation like the FIA is not enough," the 63-year-old former rally driver explained, stating his re-election bid openly for the first time. He said he was proud of what had been achieved under his mandate and saw no reason to do anything differently second time around. "Do I need more time? Yes. Has it been easy? Never. Has it been enjoyable? Sometimes. "So, I am going (to stand). I consulted with most of the members. I speak to them." The Emirati said he wanted to "keep growing motorsport. To make the FIA stronger and stronger. This is my ambition and that's what I will do.". He suggested the FIA, which ultimately owns the Formula One championship although the long-term commercial rights are held by Liberty Media, had been "neglected". "Raw deals have been given to the FIA. It doesn't make sense to me that one (Formula One) driver and one team principal make more money than all of the FIA, and the FIA owns the championship. Is that fair?," he said. Ben Sulayem's first term has been marked by controversy since he was elected in 2021 as successor to former Ferrari team boss Jean Todt. There have been battles with Liberty Media over commercial matters and accusations of sexism, and he has angered drivers in both rallying and Formula One by clamping down on swearing with heavy fines. Senior staff have left the FIA, leading to reports of an exodus, and there have been questions raised about statute changes that critics say will limit the powers of audit and ethics committees. FIA PROFIT On the plus side, the FIA last week reported a 4.7 million euro ($5.34 million) profit after reporting a loss of 24 million euros in 2021. A new "Concorde Agreement" between all Formula One stakeholders is being negotiated and both the FIA and Liberty Media say talks are going well. Former FIA secretary general for motorsport Shaila-Ann Rao, one of the high-profile departees, has returned as an advisor to the president, and Cadillac will join as an 11th team in 2026 after FIA backing in the face of initial F1 resistance. "I cleaned up the FIA house," said Ben Sulayem, who recognised there were enemies who wanted him out but said that was of no concern. "Honest people are there. My back is not anymore with knives in it. "All of this negativity; 'Oh, he's unpredictable, he's very controversial'. I am the last one who cares what they (the critics and media) do, what they say. To me it is always about the (FIA) members. "But I am more than happy. Maybe I am doing something that irritates them." No rival candidate has committed to standing against the Emirati, although twice world rally champion Carlos Sainz -- father of the Formula One driver and namesake -- is considering doing so. Ben Sulayem said he would be happy for Sainz to stand and it would be for others to decide on any potential conflict of interest. "Let him stand. That is democracy," he said. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
The Star
25-05-2025
- Automotive
- The Star
Exclusive-Motor racing-Ben Sulayem declares bid for second term as FIA president
Formula One F1 - Bahrain Grand Prix - Bahrain International Circuit, Sakhir, Bahrain - April 12, 2025 FIA President Mohammed Ben Sulayem is pictured during qualifying REUTERS/Hamad I Mohammed MONACO (Reuters) -Mohammed Ben Sulayem will stand for a second four-year term as FIA president in December, saying he would welcome any rival candidate and that he is on a mission to grow motorsport and make Formula One's governing body stronger. Speaking to Reuters at the Monaco Grand Prix, the Emirati said he had taken the decision, which was widely assumed, after conferring with members of the International Automobile Federation. "I feel having three years in a complex federation like the FIA is not enough," the 63-year-old former rally driver explained, stating his re-election bid openly for the first time. He said he was proud of what had been achieved under his mandate and saw no reason to do anything differently second time around. "Do I need more time? Yes. Has it been easy? Never. Has it been enjoyable? Sometimes. "So, I am going (to stand). I consulted with most of the members. I speak to them." The Emirati said he wanted to "keep growing motorsport. To make the FIA stronger and stronger. This is my ambition and that's what I will do.". He suggested the FIA, which ultimately owns the Formula One championship although the long-term commercial rights are held by Liberty Media, had been "neglected". "Raw deals have been given to the FIA. It doesn't make sense to me that one (Formula One) driver and one team principal make more money than all of the FIA, and the FIA owns the championship. Is that fair?," he said. Ben Sulayem's first term has been marked by controversy since he was elected in 2021 as successor to former Ferrari team boss Jean Todt. There have been battles with Liberty Media over commercial matters and accusations of sexism, and he has angered drivers in both rallying and Formula One by clamping down on swearing with heavy fines. Senior staff have left the FIA, leading to reports of an exodus, and there have been questions raised about statute changes that critics say will limit the powers of audit and ethics committees. FIA PROFIT On the plus side, the FIA last week reported a 4.7 million euro ($5.34 million) profit after reporting a loss of 24 million euros in 2021. A new "Concorde Agreement" between all Formula One stakeholders is being negotiated and both the FIA and Liberty Media say talks are going well. Former FIA secretary general for motorsport Shaila-Ann Rao, one of the high-profile departees, has returned as an advisor to the president, and Cadillac will join as an 11th team in 2026 after FIA backing in the face of initial F1 resistance. "I cleaned up the FIA house," said Ben Sulayem, who recognised there were enemies who wanted him out but said that was of no concern. "Honest people are there. My back is not anymore with knives in it. "All of this negativity; 'Oh, he's unpredictable, he's very controversial'. I am the last one who cares what they (the critics and media) do, what they say. To me it is always about the (FIA) members. "But I am more than happy. Maybe I am doing something that irritates them." No rival candidate has committed to standing against the Emirati, although twice world rally champion Carlos Sainz -- father of the Formula One driver and namesake -- is considering doing so. Ben Sulayem said he would be happy for Sainz to stand and it would be for others to decide on any potential conflict of interest. "Let him stand. That is democracy," he said. (Reporting by Alan Baldwin, editing by Ed Osmond)
Yahoo
09-04-2025
- Business
- Yahoo
23XI and FRM file motion to probe F1's finances for NASCAR lawsuit
23XI Racing and Front Row Motorsports have been busy over the last two weeks filing court motions to convince various sports leagues to comply with previously issued subpoenas for the teams' ongoing lawsuit against NASCAR. Among these was a motion filed in the US District Court of Colorado on April 7th to compel Liberty Media -- which owns Formula 1 -- to comply with a subpoena for documents that could be useful in their ongoing legal bid to challenge the France family's hold over NASCAR. The teams are asking for financial information from the F1 ownership group as they gather examples of how other series operate to help them in their lawsuit against NASCAR, aiming to prove that the France family has been operating it as an unlawful monopoly and violating antitrust laws. This is commonly referred to as the 'yardstick method' in legal circles, used to prove economic damages in suits of this nature. Simon Galloway / Motorsport Images As for Liberty Media and F1, they want specific revenue numbers for nearly every aspect of the sport, how the revenue is split between F1 and its ten teams, and the complete Concorde Agreement (which is a contract between F1, the FIA and teams that governs the financial side of the sport). And that's just scratching the surface. The teams are requesting detailed F1 revenue numbers involving broadcasting, sponsorship, tickets, seat licensing, concessions, merchandise, intellectual property, expansion fees, franchise sales, gambling, facility/locations, internet programming, and signage. The filing goes into further details with 23XI and FRM specifically requesting the production of documents relating to the following elements: - "Documents sufficient to show the number of tickets sold for each Formula 1 and/or Formula 1 Team event, number in attendance at each Formula 1 and/or Formula 1 Team event, and broadcast ratings of each Formula 1 and/or Formula 1 Team event during the Relevant Time Period." - "Documents sufficient to show the number of tickets sold for each Formula 1 and/or Formula 1 Team event, number in attendance at each Formula 1 and/or Formula 1 Team event, and broadcast ratings of each Formula 1 and/or Formula 1 Team event during the Relevant Time Period." - "Documents sufficient to show the Revenues and any other value Formula 1 receives or derives from Formula 1's and Formula 1 Teams' intellectual property." Bryn Lennon - Formula 1 - "Documents sufficient to show the Revenues and any other value Formula 1, Formula 1 Team(s), or other Entities or individual(s), including owner(s) of Formula 1 Team(s), has or expects to receive or derive from the sale, expansion, or change of control of any Formula 1 Team(s) during the Relevant Time Period." - "All Documents and Communications relating to any research, study, analysis, and estimate on the value of Formula 1 Teams or the value of any charter, franchise, and license for Formula 1 Teams during the Relevant Time Period. - "The Concorde Agreements entered, negotiated, and in effect during the Relevant Time Period." - "Formula 1's constitutions, bylaws, and other rulebooks Relating to Formula 1 and Formula 1 Team financial arrangements, operating procedures, rules, and guidelines." Liberty Media is not alone in this. The two race teams filed a similar motion in the US District Court of New York City to compel the NFL, NBA, and NHL to provide similar financial information. 23XI, co-owned by NBA legend Michael Jordan and three-time Daytona 500 winner Denny Hamlin, joined with Front Row Motorsports to stand against what they believed were unfair terms in NASCAR's 2025 Charter Agreement. They refused to sign it and quickly took legal action in an antitrust lawsuit that has been playing out since September of last year. One of the core parts of their argument is that NASCAR operates as an unlawful monopoly. They accuse the France family, whose members have run the sport since its inception in 1948, of showcasing "anti-competitive and monopolistic control of the sport." Chris Graythen - Getty Images While the trial is still months away, the teams have fought to keep control of their charters, which they successfully did via a preliminary injunction that was granted in December of last year. The legal fight has also led to NASCAR filing a countersuit, accusing them of an unlawful conspiracy and also violating the Sherman Antitrust Act. Read Also: NASCAR vs. 23XI and FRM: Live timeline of the antitrust lawsuit NASCAR countersues 23XI and FRM, claiming scheme to "threaten, coerce, and extort" sport Restraining order slapped on Rick Ware Racing in dispute over $45 million charter deal
