The FIA had a 20 million euro deficit at the end of Jean Todt’s mandate

As he reaches the end of his first year in office, Mohamed Ben Sulayem, the President of the FIA, has revealed that he took over from Jean Todt with a deficit of 20 million euros and a lawsuit regarding the violation of a patent crucial to the development of the Halo.

The president of the FIA explained that he had spent a lot of energy trying to fill the gap in the FIA’s budget deficit. He explained that there was a financial problem that couldn’t be talked about too much. “We had a deficit before the pandemic, but I’m happy that it has now been resolved,” he said.

The financial problems of the FIA are one of the reasons that have prompted them to hire Nathalie Robin as the first director of the FIA, a new role within the international organization where previously the President was also the Director.

« We have never had a director in our 118 years of existence. But if we have to solve all the problems we face, I cannot micro-manage everywhere. When you address the director, you are speaking about managing the organization, daily tasks, finances, and strategies. »

The FIA laid off a lot of personnel this year, in Paris, Geneva, and other locations in Europe, partly to restore its budgetary balance and restructure itself.

I’m going to be honest with you, this year we had a deficit of 20 million dollars and I’m glad to know that even with that, we never stopped supporting the various organizations around the world affiliated with the FIA.

It was a year of learning and studying not just in Formula 1 but at the FIA in general, he continued.