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F1: Schumacher, Todt Help Spend McLaren Penalty Money
Written by: Adam Cooper
RACER Magazine   http://www.racer.com/speedtv
03/26/2008 - 01:11 PM
Paris, France
 
Schumacher will help decide where McLaren's money goes. (LAT photo) ยป More Photos

Michael Schumacher and Jean Todt are two of the five members of the Management Committee chosen by the FIA to spend the approximately $60m fine paid by McLaren after the spy scandal verdict. (Although the headline figure was $100m, the rest was the prize money payment the team would have had from FOM and Bernie Ecclestone.)

The other members of the committee are Max Mosley, Mercedes motor sport boss Norbert Haug, and former SCCA chief Nick Craw.

The FIA issued the following announcement after today’s World Motor Sport Council meeting:

“The WMSC appointed the Management Committee for the Motor Sport Safety Development Fund, the body which will distribute the $60 million from the McLaren-Mercedes fine, for the benefit
of motorsport worldwide. The Committee will control the Fund under the administration of the FIA Foundation.

“The appointed members to the Committee are Max Mosley and Michael Schumacher (both FIA Foundation Trustees), Nick Craw, President of the Automobile Competition Committee for the United States (representing National Sporting Associations), Jean Todt and Norbert Haug (from Ferrari and Mercedes as the manufacturers involved in the incident that gave rise to the original fine).

“The intention is to disperse the Fund over the next five years and to concentrate activities on a Young Driver Safety Scholarship Program, an Officials Skills Safety Training Program and a Facility Safety Improvement Consultancy Program.”
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