Had to deal with a financial deficit and a looming court case regarding Halo... F1
FIA president Mohammed Ben Sulayem has revealed F1’s governing body had a $20 million deficit that needed solving when he joined.
The court case was in regards to the halo which was fitted to all F1 cars from the 2018 season but a suit was filed in the United States over a potential patent infringement by the FIA brought about by its inventor Jens H. S. Nygaard. “We never had a CEO for 118 years and if we want to deal with the challenges that’s going on, I cannot go and micromanage.
“I’m very happy to know that even with it, we never stopped any of the support of the grants or the efficiency of the FIA towards any ASN or any club. And we’re still saving.”“Imagine yourself being elected in the role after all these years of trying, everybody having a party on the night of the 17th ,” the 61-year-old said. “Then you go to the office on the 18th and 10 o’clock in the morning, the first thing you meet is your legal people and they say you have a big court case with the halo.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FIA's Ben Sulayem reveals court case and $20 million deficit headachesFIA president Mohammed Ben Sulayem has revealed two major challenges he faced after taking over the job last year – a court case and a $20 million financial black hole.
Read more »
FIA's Ben Sulayem reveals court case and $20 million deficit headachesFIA president Mohammed Ben Sulayem has revealed two major challenges he faced with a court case and a $20 million financial black hole after taking the job.
Read more »
FIA: "No doubt" floor changes for 2023 were right thing to doThe FIA believes there is “no doubt” it did the right thing by changing Formula 1’s floor rules for 2023 to combat porpoising.
Read more »
FIA: "No doubt" floor changes for 2023 were right thing to doThe FIA believes there is “no doubt” it did the right thing by changing F1’s floor rules for 2023 to combat porpoising. Read more ⬇️
Read more »
Ben Shephard shares plans for 20th wedding anniversary including vow renewalEXCLUSIVE: Good Morning Britain presenter Ben Shepard, who met wife Annie in 1995, has been reflecting on their emotional wedding day as he prepares for their 20th anniversary
Read more »
Second arrest in Solihull taxi driver murder investigationA Derbyshire man, 19, faces police questioning over the stabbing of Mohammed Istakhar in Solihull last month
Read more »