FIA president Mohammed Ben Sulayem has hailed the organisation’s return to profitability, driven by a significant reduction of operating costs and an increase in revenues and savings.
The Emirati former professional rally driver, who was appointed FIA president in December 2021, was speaking after financial results to date for 2024 were unveiled at World Council meetings during the FIA General Assemblies week in Kigali, Rwanda.
The FIA, who oversee all motorsport including Formula 1, forecast an operating result of €2.2 million in 2024 – a remarkable improvement given that the organisation reported losses of €24 million in 2021. The forecast operating result would be the best of the last seven years and the first positive year since 2018.
Ben Sulayem said: “This achievement is a result of our commitment to reform of the organisation in the areas of governance and finance.
“The new FIA leadership inherited a financial situation which was not sustainable in 2022. We have worked hard to reduce a sizeable deficit and have stabilised the overall financial health of the federation. We have implemented cost-containment measures and revenue-generating strategies to put the FIA on a more sustainable financial footing to meet our primary purpose of supporting our member clubs.”
Several measures have been introduced to streamline the FIA’s accounting and reporting procedures to create a sustainable financial model. Ben Sulayem added that the future of motorsport is being “driven by innovation and purpose”, noting significant investment from the FIA across global grassroots activities alongside substantial research and development in the safety, volunteers, and officials spaces.
The Vision 2030: FIA Motorsport Strategy, which provides a substantial platform for growth and further success, was also unveiled in Kigali during the FIA General Assemblies Week, with more details to be shared in 2025.
Ben Sulayem said: “This year has been a time of change and growth. We have built a stronger organisation redefining our leadership with high-level appointments that bring a wealth of professional experience to the federation.
“The FIA is on the right track. The 2024 FIA Formula 1 World Championship season was record-breaking and highly competitive, and we continue our collaboration with Formula 1 and General Motors as we move towards an eleventh team on the grid from 2026.”
The 2024 F1 season concluded in fascinating fashion with the FIA Formula 1 Constructors’ World Championship being decided at the final race in Abu Dhabi earlier this month. McLaren claimed the honours in the UAE capital, winning their first FIA Formula 1 Constructors' World Championship in 26 years.
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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More coverage from the Future Forum
What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
FA Cup semi-finals
Saturday: Manchester United v Tottenham Hotspur, 8.15pm (UAE)
Sunday: Chelsea v Southampton, 6pm (UAE)
Matches on Bein Sports
Haemoglobin disorders explained
Thalassaemia is part of a family of genetic conditions affecting the blood known as haemoglobin disorders.
Haemoglobin is a substance in the red blood cells that carries oxygen and a lack of it triggers anemia, leaving patients very weak, short of breath and pale.
The most severe type of the condition is typically inherited when both parents are carriers. Those patients often require regular blood transfusions - about 450 of the UAE's 2,000 thalassaemia patients - though frequent transfusions can lead to too much iron in the body and heart and liver problems.
The condition mainly affects people of Mediterranean, South Asian, South-East Asian and Middle Eastern origin. Saudi Arabia recorded 45,892 cases of carriers between 2004 and 2014.
A World Health Organisation study estimated that globally there are at least 950,000 'new carrier couples' every year and annually there are 1.33 million at-risk pregnancies.
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
