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F1 and FIA Unveil Strategic Plan A Path to Peace

F1 and FIA Unveil Strategic Plan: A Path to Peace?

16/05/2024

F1 and the FIA reveal a strategic plan aimed at harmonizing their future efforts and potentially marking a truce.

The FIA and F1 issued a joint press release this Wednesday, in which they appear to be burying the hatchet. Indeed, the brief statement was posted on the federation’s website, but it clearly represents both entities.

The statement highlights the good health of Formula 1, and therefore of Liberty Media, the commercial rights holder through FOM (Formula One Management). After some tension in recent months, the leaders of the premier class indicate their intention to work together.

“The FIA Formula One World Championship has never been stronger and is expanding globally. The FIA and Formula One are committed to achieving the best outcomes for the entire sport,” the governing body stated in a release.

To this end, they announce a new strategic development plan that will undoubtedly be detailed later: “For this purpose, both parties are developing a new strategic plan that will enable us to seize opportunities and enhance F1’s potential in the coming years.”

Tensions have been high recently, notably due to statements by Mohammed Ben Sulayem, the FIA president, who had attempted to lower the estimated value of Formula One, which had irritated FOM.

The fact that Stefano Domenicali, the CEO of F1, supported the teams in refusing to accept Andretti into Formula One, going against the FIA’s opinion, also created additional tensions. This chapter now appears to be closing, and a page of cooperation is evidently opening.

F1 and FIA Unveil Strategic Plan A Path to Peace

F1 and FIA Unveil Strategic Plan: A Path to Peace?. F1 and FIA Unveil Strategic Plan: A Path to Peace?

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