The FIA is the governing body for motorsport events that occur all around the world. However, the FIA became popular mainly because of the popularity of Formula 1. The FIA also governs a number of other sports including WRC, WEC, and a lot more.
The FIA sets the rules and regulations for Formula 1 every season. Apart from this, they also run the operations for the sport. With Formula 1 being so dependent on the FIA, one can only wonder when this relationship started.
When did F1 and the FIA’s relationship begin?
The FIA has always been a part of F1. Formula 1 started from the European Racing Championships which took part in the 1920s and 1930s. However, in 1946, F1 racing was formed to implement a set of rules for all the cars to follow. From the beginning, these sets of rules were implemented by the FIA. This relationship with the FIA continued when F1 became a Championship in 1950.
Since Formula 1 has never gone a season without the FIA, it is unlikely that the relationship will come to an end anytime soon. F1 and the FIA are always in conflict with the teams. While F1 teams aim to make the car as fast as possible, the F1 and the FIA try to make it slower.
How to start an F1 race đź« pic.twitter.com/p7mLNKXfmv
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During the early years of F1, the sport proved to be very dangerous. Due to this, F1 wanted to make the sport safer for the drivers and the spectators. Hence, F1 and the FIA work together to implement regulations that aim to slow down the F1 cars.
Although the FIA and F1 look to slow down the cars for safety reasons, they also try to improve the quality of racing. This can only be done by making it easier to overtake. In 2010, the FIA implemented the DRS system which was a huge step forward in increasing the quality of racing.
Does the FIA still own Formula 1?
In the beginning, the FIA did own Formula 1. However, Bernie Ecclestone saw a business opportunity here. During the 1970s, Ecclestone decided to commercialize the sport to help with its growth. In doing this, he turned F1 into a billion-dollar empire.
Bernie established the Formula 1 Promotions and Administrations (FOCA). At the time, the FOCA and the FIA decided to split the revenue generated from television between the teams, the FIA, and the FOCA, with the teams getting the majority.
Family pictures 🫶
How nice it is to have all drivers, competing in all championships around the world, to regroup for the 2023 FIA Prize Giving ceremony.
The FIA wishes you all the best for the upcoming season. See you next year. #FIAPrizeGiving2023 pic.twitter.com/sed0QGr9fr— FIA (@fia) December 9, 2023
Bernie Eccleston owned the majority share of the FOCA. However, over the years, he sold it to various groups. Today, FOCA is referred to as the commercial rights of F1. They control all marketing and even the direction they want the sport to take.
In 2017, the commercial rights to Formula 1 were bought by Liberty Media for around 4 billion dollars. It has been speculated that this value has increased to around $20 billion. This boost in value has come mainly because of the Netflix series, Drive to Survive. The series brought in a lot of new fans to F1, especially from the United States.
The FIA still continues to get a share of the profits from F1 every season. However, the teams and Liberty Media continue to get their fair share. If F1 decides to part ways with the FIA, most of the profits will go to the Formula 1 group.