What exactly happens to the money that teams have to pay to the FIA for imposed fines? FIA executive Nikolas Tombazis hopes to shed some light on this, revealing that the money certainly does not go to the FIA itself. “The FIA is not a profit-making organization,” the executive explains.
The FIA has often been in the negative spotlight lately. Controversies surrounding FIA chairman Mohammed Ben Sulayem regularly came to attention, but the FIA hopes to clear up one misunderstanding. FIA executive Nikolas Tombazis explains where exactly the money from the fines paid by teams goes.
“The FIA is not a profit-making organization,” Tombazis explains to Motorsport.com. “We don’t have shareholders who look at some figures on the stock market and hope that the share price goes up. So all the money is spent on things that are considered useful. Whether it’s safety, grassroots projects, or other projects related to traffic safety.”
Christmas Parties
Although Tombazis understands that teams and drivers are not happy with the monetary fines, the executive emphasizes that the money benefits Formula 1 itself. “I realize that everyone who pays a fine is always a bit irritated about it. But there are so many different levels of projects that you can never come to the conclusion that this money is going in some way to Christmas parties.”
