Formula One news

McLaren $50m fine due in December

McLaren will pay $50million of its fine in the spy scandal to the FIA in December, it was revealed after a meeting of the World Motor Sport Council on Wednesday in Paris. The money will be used to establish a fund for promoting and developing safer motorsport worldwide.

"Following the judgement of the World Motor Sport Council on 13 September, a sum in excess of $50 million will be paid in December to the FIA," a statement from the FIA read. "This will be used to establish the FIA Development Fund, which will assist the work of National Sporting Authorities in promoting the development of safer motor sport worldwide, especially in countries where the motor sport infrastructure is in need of support."

Representatives from Mercedes and Ferrari will be invited to join the fund's board.

more news

• 09 Jan.
  • New Renault fails FIA crash test
  • Toro Rosso confirm Buemi
  • Technical reshuffle at Red Bull
  • Klien still optimistic of race seat
  • Kubica named Polish sports personality of the year
  • Richards out of Honda running
  • Donington gains planning permission
• 08 Jan.
  • FOTA agrees cost-cutting plans
  • De la Rosa still aiming for race seat in F1
  • A dozen parties interested in Honda
  • Mosley not done yet with cost cuttings
• 07 Jan.
  • Ecclestone reveals September deadline for Donington
  • Ferrari willing to supply 'Honda' with engines
  • Brawn says Honda won't test before season
• 06 Jan.
  • Ferrari to use electronic pitstop system in 2009
  • Kubica to start karting team
  • Webber's recovery going well
  • Ferrari to reveal new car next week
  • Stewart hits out at Ecclestone and Mosley
• 05 Jan.
  • Red Bull's RB5 to debut in February
  • Suspended sentence and fine for Verstappen
  • Berger confirms Buemi for STR
• 04 Jan.
  • Kubica expecting more accidents
• 03 Jan.
  • Encouraging news for Donington
• 02 Jan.
  • Di Resta still hopeful of F1 drive
  • "Title loss would have damaged Hamilton's reputation"
• 01 Jan.
  • Hakkinen supports medals system
• 31 Dec. '08
  • Kubica: Next year is a big challenge
  • Hakkinen: Vettel will soon be a Formula 1 champion
  • Hamilton receives MBE award
  • Heidfeld expects more accidents in 2009
• 30 Dec. '08
  • Hamilton to join Madame Tussauds
  • Ecclestone: Button should take a sabbatical
  • Manager: Alonso would love to join Ferrari one day
  • Changes at Toro Rosso
• 29 Dec. '08
  • Hamilton to miss victory parade in Woking
  • Alonso to join Ferrari in 2011?
  • Mexican billionaire denies Honda bid
• 28 Dec. '08
  • Mexican buyer for Honda?
• 27 Dec. '08
  • F1 drivers positive on Algarve circuit

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