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Old 04-06-2008, 05:00 PM
Bill Wood's Avatar
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Join Date: Mar 1999
Location: Johns Creek, GA, USA
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Lightbulb Ferrari reps help allocate funds from McLaren fine

Filed under: Motorsports, Hirings/Firings, Mercedes Benz, Earnings/Financials, Ferrari, FIAT
'You don't get the money, but you do get to decide where it goes.' That's pretty much the gist of the statement which the FIA, Formula One's governing body, made to Ferrari regarding the funds accrued from the penalty imposed on rival team McLaren last year when it was deemed guilty of espionage.Although Ferrari got a mysteriously identical $100m payment last year, those funds came from Bernie Ecclestone's Formula One Management and not from Max Mosley's FIA, which imposed the fine. That cash was never meant for Ferrari to receive, but it is now being reported that two leading Ferrari figureheads will form part of the ad-hoc committee responsible for allocating $30 million of the funds. Michael Schumacher and Jean Todt, who despite having both left their positions at Ferrari remain inexorably connected to the team, will join McLaren-Mercedes' Norbert Haug, Automobile Competition Committee president Nick Craw and FIA president Max "J-Edgar-ain't-got-nothin'-on-me" Mosley on the committee that will allocate the funds towards a variety of causes to support motorsport development programs worldwide.
[Source: PlanetF1 via World Car Fans]

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