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McLaren to pay $50m

NEWS STORY
24/10/2007

It was revealed at the World Motor Sport Council Meeting that McLaren will have to hand over $50m (£24.4m) to the FIA as a result of its role in the spy saga that has dominated the 2007 F1 season.

At the meeting of the World Motor Sport Council last month, the Woking team was fined $100m and excluded from the 2007 Constructors Championship. However, at the time the FIA admitted that the actual amount the team would have to pay would be significantly reduced when prize money, expenses and TV revenues were taken into account.

Revealing that the Woking team will have to pay the money in December, the FIA explained how the $50m will be used to benefit motorsport, courtesy of the FIA Development Fund, which will now be established to; "assist the work of National Sporting Authorities (ASNs) in promoting the development of safer motor sport worldwide, especially in countries where the motor sport infrastructure is in need of support."

It was further revealed that Representatives from Mercedes and Ferrari will be invited to join the Fund's board.

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