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Yahoo
20-05-2025
- Automotive
- Yahoo
FIA Delivers Financial Turnaround, Marking New Era of Growth and Stability
Period of strategic transformation since President Mohammed Ben Sulayem was elected brings the FIA back into the black for the first time in five years. The FIA today reports its strongest financial result in almost ten years, with an operating result of € 4.7m for FY2024, significantly up from an operating loss of €-24.0m in 2021. Vastly improved financial health enables the FIA to drive strategic priorities across motor sport and mobility, reinvest in sporting Championships under its governance, and deliver a stronger Fédération for Member Clubs. PARIS, May 20, 2025--(BUSINESS WIRE)--The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, has today announced a pivotal turnaround in the financial health of the Fédération, under the leadership of FIA President Mohammed Ben Sulayem. At the end of the fiscal year 2024, the Fédération is pleased to report 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 President Mohammed Ben Sulayem was elected. In line with the President Mohammed 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. The operating result of € 4.7m marks a strong improvement from 2023, with operating income growth of €+26.7m respectively +17% year-on-year. The FIA is absent of any financial debt at the 2024 fiscal year end, and it reports a healthy equity ratio of 45%. The current leadership team has worked rigorously since 2021 to ameliorate its internal systems, controls and processes. It has strongly enhanced procurement control and automation, implemented internal quarterly reporting, and established a financial steering model which enables effective decision making within senior management. This model has enabled increased budget control and has allowed the FIA to review its pricing and reallocate resources to best pursue its strategic priorities across motor sport and mobility. In addition to these important measures, the FIA has introduced a second General Assembly mid-year, to ensure that prior year audited financial accounts can be established within the appropriate timeframe for release. For the second year running, the FIA will publish a full Activity Report in May 2025, ahead of the General Assembly in June. This year, the Activity Report has been enhanced by a new P&L presentation format which enhances clarity and transparency. The strengthened financial health of the FIA brings the organisation out of a five-year long period of substantial operating loss, enabling it to provide a world-class service to its 245 Member Clubs around the world, as well as reinvest into the seven World Championships under its governance. 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. Mohammed Ben Sulayem, President at the FIA, said: "Upon my election as President of the FIA, I committed to ensuring a profitable operation. 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 Fédération Internationale de l'Automobile (FIA) is the governing body for world motor sport and the federation for mobility organisations globally. It is a non-profit organisation committed to driving innovation and championing safety, sustainability and equality across motor sport and mobility. Founded in 1904, with offices in Paris, London and Geneva, the FIA brings together 245 Member Organisations across five continents, representing millions of road users, motor sport professionals and volunteers. It develops and enforces regulations for motor sport, including seven FIA World Championships, to ensure worldwide competitions are safe and fair for all. View source version on Contacts For media enquiries please contact:Jonathan Refoy, FIA Chief Communications Officer – jrefoy@ Sophia Martin-Pavlou, FIA Corporate Communications Director – smartin-pavlou@ Geri Sherwin, FIA Head of Presidential Communications – gsherwin@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mid East Info
15-05-2025
- Automotive
- Mid East Info
Ben Sulayem drives major improvements to Appendix B of FIA's International Sporting Code - Middle East Business News and Information
New guidance will significantly reduce the maximum penalties for drivers by 50% no matter the discipline Dubai, UAE: The Fédération Internationale de l'Automobile (FIA), the global governing body for motor sport and the federation for mobility organisations worldwide, has announced that it will make major improvements to Appendix B of its International Sporting Code (ISC) following an extensive review commissioned by FIA President, Mohammed Ben Sulayem. The latest version of Appendix B of the ISC was introduced in January 2025, aligning the FIA with other global sporting organisations such as FIFA, the National Football League and World Rugby, all of which have strong codes of conduct to protect the integrity of their respective sports. The ISC provides the stewards with the necessary regulatory tools to ensure they have all relevant information regarding the range of penalties that may be imposed and the procedures to be followed. This enables them to apply penalties in a consistent and transparent manner. The review was carried out in collaboration with the FIA Drivers' Committee and its President, Ronan Morgan, as well as the FIA Formula One Steward Chairs. Input was also received from FIA Members Clubs and other motor sport organisations across the seven FIA World Championships. The main changes to Appendix B are as follows: The base maximum penalty has been reduced generally from €10,000 to €5,000. This is a reduction of 50%. However, for FIA World Championships, where multipliers were involved, the reductions will be even more significant. Stewards will have the option to fully suspend a penalty for certain types of breach, provided it is the first offence by the driver or team. Following approval via e-vote by the WMSC, the amended Appendix B will allow stewards to differentiate between controlled and non-controlled environments, effectively recognising the difference between language used in 'uncontrolled' and 'controlled' environments. Controlled environments include settings such as press conferences, while uncontrolled environments refer to spontaneous comments made by drivers or teams when on track or during a rally stage. Mitigating circumstances will continue to be considered, with additional guidance available to promote consistency and fairness for all parties in the application of Appendix B. Abuse of officials will now result in sporting penalties rather than fines, aligning motor sport with other major global sports organisations Racial and discriminatory comments will continue to be addressed firmly. Stewards will retain the supreme authority to decide which penalty to impose in the event of a breach of the ISC. FIA President Ben Sulayem, said: 'As a former rally driver, I know firsthand the range of emotions that are faced during competition. I have led an extensive and collaborative review with contributions from across the seven FIA World Championships, FIA Member Clubs and other motor sports organisations. 'The improvements the FIA has announced today to Appendix B will ensure we continue to promote the best of sportsmanship in motor sport, while also giving Stewards effective guidelines to act against individuals who may bring the sport into disrepute. The FIA will always be committed to ensuring motor sport is accessible for all our sporting family.' Ronan Morgan said: 'Drivers are looked up to as role models by young fans and are rightly seen as ambassadors for the wider world of motor sport. How they act really does matter, but it is important to recognise that there is a difference between what is said during a race and in a press conference. 'Today's changes further strengthen the FIA's International Sporting Code supporting our drivers by understanding the pressures they face during the heat of competition.' The Fédération Internationale de l'Automobile (FIA) is the governing body for world motorsport and the federation for mobility organisations globally. It is a non-profit organisation committed to driving innovation and championing safety, sustainability and equality across motor sport and mobility. Founded in 1904, with offices in Paris, London and Geneva, the FIA brings together 245 Member Organisations across five continents, representing millions of road users, motor sport professionals and volunteers. It develops and enforces regulations for motor sport, including seven FIA World Championships, to ensure worldwide competitions are safe and fair for all.
Straits Times
14-05-2025
- Sport
- Straits Times
FIA reduces penalty for swearing after driver backlash
FILE PHOTO: Formula One F1 - Miami Grand Prix - Miami International Autodrome, Miami, Florida, United States - May 4, 2025 FIA president Mohammed ben Sulayem after the Miami Grand Prix REUTERS/Marco Bello/File Photo The maximum penalties for drivers swearing has been reduced by 50% while stewards will also be given more discretion on deciding penalties, the governing FIA said on Wednesday. Competitors in Formula One and rallying have been at loggerheads with FIA President Mohammed Ben Sulayem over a crackdown on bad language during events. Ben Sulayem said last month that he was considering "improvements" to rules. World championship rally drivers had made a breakthrough in April when they reached a compromise to divide events into a controlled zone and an uncontrolled one, with the change now being implemented across all events sanctioned by the FIA. The FIA said the base maximum penalty has been reduced from 10,000 euros ($11,214) to 5,000 euros while stewards will have the option to fully suspend a penalty if it is the first offence by a driver or a team. Moreover, stewards will be able to differentiate between "controlled and non-controlled environments". Controlled environments include press conferences while tracks or rally stages are uncontrolled environments. "As a former rally driver, I know firsthand the range of emotions that are faced during competition," said Ben Sulayem, who is up for re-election at the end of the year. "I have led an extensive and collaborative review with contributions from across the seven FIA World Championships, FIA Member Clubs and other motor sports organisations. "The improvements the FIA has announced today to Appendix B will ensure we continue to promote the best of sportsmanship in motor sport, while also giving stewards effective guidelines to act against individuals who may bring the sport into disrepute." Appendix B covers stewards' penalty guidelines, setting out punishments for misconduct including words, deeds or writings that might have caused moral injury to the FIA or motorsport in general. Mitigating circumstances will also be considered while the abuse of officials will now result in sporting penalties instead of fines. Formula One Stewards Chair Garry Connelly said the new changes would give stewards guidance to "differentiate between on- and off-track issues". "Drivers are looked up to as role models by young fans and are rightly seen as ambassadors for the wider world of motor sport," said Ronan Morgan, president of the Drivers' Committee. "How they act really does matter but it is important to recognise that there is a difference between what is said during a race and in a press conference." Last season, Red Bull's triple world champion Max Verstappen was punished for his language in a press conference at the Singapore Grand Prix in September. Meanwhile, Ferrari's Charles Leclerc was fined 10,000 euros for swearing at the Mexico City Grand Prix. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
14-05-2025
- Automotive
- Yahoo
FIA announces significant changes to controversial driver misconduct regulations
Entering the 2025 world motorsport season, there was a substantial talking point that dominated discussion, including in Formula 1. Driver misconduct. Last winter, the FIA introduced a controversial 'Appendix B,' instituting new penalties for driver misconduct, including swearing. With penalties accelerating based on the number of violations and the series involved — with the most significant financial penalties reserved for F1 drivers — and potential suspensions and sporting penalties on the table, many wondered if Appendix B would impact the future of motorsport. Advertisement However, the FIA is taking a step back. The governing body unveiled a series of changes to Appendix B on Wednesday, changes that not only reduce the maximum financial penalties but also give race officials the option to suspend penalties fully for certain breaches. In a statement released by the FIA, the motorsport governing body outlined that the 'base maximum penalty has been reduced generally from €10,000 to €5,000. This is a reduction of 50%. However, for FIA World Championships, where multipliers were involved, the reductions will be even more significant.' Race stewards not only can fully suspend penalties for a driver's first infraction, but can 'differentiate between controlled and non-controlled environments.' While driver conduct will be governed in 'controlled' environments such as press conferences, comments made in the heat of the moment — such as on the track or during a rally stage — will fall under the 'non-controlled' category. Advertisement The FIA also stated that '[m]itigating circumstances will continue to be considered' under the revised Appendix B. You can read the fully revised Appendix B here. 'As a former rally driver, I know firsthand the range of emotions that are faced during competition. I have led an extensive and collaborative review with contributions from across the seven FIA World Championships, FIA Member Clubs and other motor sports organisations,' said FIA President Mohammed Ben Sulayem. 'The improvements the FIA has announced today to Appendix B will ensure we continue to promote the best of sportsmanship in motor sport, while also giving Stewards effective guidelines to act against individuals who may bring the sport into disrepute. The FIA will always be committed to ensuring motor sport is accessible for all our sporting family.'
Yahoo
14-05-2025
- Automotive
- Yahoo
Talk is cheaper, Max: ‘silly' fines for Formula One drivers' swearing are cut by 50%
Max Verstappen was punished for using foul language in a press conference at the Singapore Grand Prix in September. Max Verstappen was punished for using foul language in a press conference at the Singapore Grand Prix in September. Photograph: Gabriel Bouys/AFP/Getty Images Efforts to clean up Formula One's act have taken a more tolerant turn with the FIA cutting by half the maximum penalties for drivers' swearing, a move that is certain to please the defending world champion, Max Verstappen. Formula One drivers have been at loggerheads with the FIA president, Mohammed Ben Sulayem, over a crackdown on bad language during grand prix weekends and he said last month that he was considering 'improvements' to rules. Advertisement World championship rally drivers had made a breakthrough in April when they reached a compromise to divide events into a controlled zone and an uncontrolled one, with the change now being implemented across the F1 paddock. Related: Flavio Briatore takes on Alpine F1 team lead duties as Colapino replaces Doohan Last season, Verstappen, Red Bull's triple world champion, was punished for his foul language in a press conference at the Singapore Grand Prix in September while Ferrari's Charles Leclerc was fined 10,000 euros for swearing at the Mexico City Grand Prix. Verstappen was later critical of the governing body's 'silly' insistence on pursuing issues such as drivers swearing when, he believed, the sport had bigger issues to tackle. The FIA said on Wednesday the base maximum penalty has been reduced from €10,000 (£8,423) to €5,000 while stewards will have the option to fully suspend a penalty if it is the first offence by a driver or a team. Advertisement Also while stewards will also be given more discretion on deciding penalties. They will be able to differentiate between 'controlled and non-controlled environments'. Controlled environments include press conferences while tracks or rally stages are uncontrolled environments. 'As a former rally driver, I know first hand the range of emotions that are faced during competition,' said Ben Sulayem, who is up for re-election at the end of the year. 'I have led an extensive and collaborative review with contributions from across the seven FIA World Championships, FIA Member Clubs and other motor sports organisations. 'The improvements the FIA has announced today to Appendix B will ensure we continue to promote the best of sportsmanship in motor sport, while also giving stewards effective guidelines to act against individuals who may bring the sport into disrepute.' Appendix B covers stewards' penalty guidelines, setting out punishments for misconduct including words, deeds or writings that might have caused moral injury to the FIA or motorsport in general. Mitigating circumstances will also be considered while the abuse of officials will now result in sporting penalties instead of fines. Garry Connelly, F1's stewards chief, said the changes would give stewards guidance to 'differentiate between on- and off-track issues'. 'Drivers are looked up to as role models by young fans and are rightly seen as ambassadors for the wider world of motor sport,' said Ronan Morgan, president of the Drivers' Committee. 'How they act really does matter but it is important to recognise that there is a difference between what is said during a race and in a press conference.'
