David Ward, the challenger to Jean Todt in the upcoming FIA 2013 Presidential election has welcomed the new Concorde Agreement. He did however add that Todt have not yet given an explanation what the FIA will do with the additional funds available to them.
“The final conclusion of the negotiations over the Concorde Agreement is a very positive development for the FIA. This is a solid achievement by Jean Todt and I congratulate him for it. The question now is what will the new resources from Concorde be used for? The answer should be for investment in ‘grass roots’ development of motor sport.
“In my manifesto I have proposed to ‘use all the revenue in excess of regulatory costs of the F1 Championship for investment in motor sport safety, sustainability, solidarity funding of ASN development programmes, and for training of officials and volunteers’.
“Jean Todt has yet to publish a manifesto or explain how he will use the new funds now available to the FIA. Sooner rather than later this should be made clear to the FIA membership.”