Ben Sulayem leads FIA to major financial recovery with best results in almost a decade
According to figures released this week, the global governing body for motorsport and mobility organisations achieved an operating result of €4.7 million ($5.2 million) for the fiscal year 2024, a dramatic recovery from the €24 million loss recorded in 2021, the year before Ben Sulayem took office.
The turnaround is attributed to a wide-ranging strategic transformation led by the administration. Since taking office, Ben Sulayem has prioritized reforms in financial governance, transparency and operational efficiency across the organization.
'Upon my election as president of the FIA, I committed to ensuring a profitable operation,' said Ben Sulayem. 'Today, I am incredibly proud to show that we have achieved this mission, delivering the strongest set of financial results in eight years.'
The FIA reported a total operating income of €182 million for 2024, a 17 percent year-on-year increase, with no outstanding financial debt and an equity ratio of 45 percent, signaling improved financial stability.
Key reforms introduced since 2021 include strengthened procurement controls, the introduction of quarterly internal reporting and a robust financial steering model. These changes have improved budget oversight and allowed the FIA to better allocate resources in line with its strategic objectives across both motorsport and mobility.
The federation also introduced a mid-year general assembly, ensuring more timely financial accountability, and will publish its second consecutive annual activity report ahead of the 2024 general assembly in June. The latest report will include a newly enhanced profit and loss presentation format aimed at increasing transparency.
The improved financial position enables the FIA to reinvest in its core programs, including support for 245 member clubs worldwide and the development of the seven world championships under its governance. It also strengthens the FIA's ability to deliver on key objectives, including sustainability initiatives and grassroots motorsport development.
A nonprofit organization, the FIA is now well positioned to build on its financial recovery and continue delivering on its broader mandate to promote safe, accessible and sustainable motorsport on a global scale.
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