FIA reveals financial results of 2024 season: over 2 million in profit, first time since 2018. Ben Sulayem celebrates the first year in which the Federation closes the accounts with an operating profit.

FIA Financial Results 2024

During the end-of-year awards ceremony held in Rwanda’s capital, Kigali, the FIA issued a statement positively commenting on the financial report for the 2024 season. The organization, led by Emirati Mohammed Ben Sulayem – who until a few days ago had highlighted a lack of funds to hire a pool of professional stewards – presented the financial results, emphasizing the significant reduction in operating costs without cutting new initiatives.

This achievement was made possible thanks to greater focus on savings and increased FIA revenues. In the press release, Place de la Concorde also provided some figures to illustrate the extent of the improvement. The deficit of 24 million euros recorded in 2021 has turned into a profit of 2.2 million euros in 2024. These figures, according to the Federation itself, are the best in the past seven years and the first positive results since 2018.

Ben Sulayem’s Comment

“This result,” explains Ben Sulayem, “is the fruit of our commitment to reforming the organization in the areas of governance and finances. The new FIA leadership inherited an unsustainable financial situation in 2022. We worked hard to reduce a significant deficit and stabilized the overall financial health of the Federation. We implemented cost containment measures and revenue generation strategies to place the FIA on a more sustainable financial footing and to fulfill our primary purpose, which is to support our member clubs.”