MARCH 27, 2001
Mosley's 100-year deal close
MAX MOSLEY could soon get his wish to establish an FIA Foundation f the settlement being discussed between Bernie Ecclestone and Leo Kirch is concluded. The FIA will receive a total of $360m from SLEC, the majority of which will be paid immediately. This money will be held in a British trust fund and the FIA will gain interest payments of around $15m each year. This will be enough for the federation to undertake all the necessary research programs into accident safety, environmental issues and intelligent cars. It will also give the FIA the possibility of establishing educational programs.
Plans to buy a building in Paris to be the federation's headquarters have been shelved but we hear that the FIA has agreed a deal with the Automobile Club de France to take over the upper floors of the ACF building in the Place de la Concorde - where the FIA was housed before its move to Geneva. The FIA sections of the ACF building will be completely revamped before the FIA moves back in at the start of next year.
In exchange for the money from SLEC, the FIA will agree to sign over the promotional rights to Formula 1 racing for a 100-year period, starting in 2010, when the current agreement ends.
The establishment of the FIA Federation will probably stand as Mosley's major achievement in the years to come and will add to the pressure that is gradually growing for him to be honored by the British Government. Mosley is the only British head of a major international sporting federation and in the past people in such positions have been recognized for their achievement.
With a British General Election due in May, the new government - most likely headed by the current Prime Minister Tony Blair - may well take the opportunity to reward Mosley for his efforts. The first such opportunity would be the Queen's Birthday Honors in June...
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