Million dollar fine for McLaren

Source: Stock Market Digital

Date :14/09/2007 11:15:36

FORMULA One leader McLaren has been removed from the 2007 constructors' title race and fined $100 million for possession of confidential information belonging to Ferrari.

The world motor sport's governing body, the FIA, said in a statement after a meeting in Paris: "The WMSC has stripped Vodafone McLaren Mercedes of all constructors' points in the 2007 FIA Formula One World Championship an the team can score no point for the remainder of the season .

"Furthermore, the team will pay a fine equal to 100 million dollar, less the FOM income lost as a result of the points deduction.

"However, due to the exceptional circumstances in which the FIA gave the team's drivers an immunity in return for providing evidence, there is no penalty in regards to drivers' points.”

This means that McLaren's drivers' championship leader, Lewis Hamilton, and team-mate Fernando Alonso can keep their points in the drivers' championship.

McLaren, winners of the recent Italian Grand Prix at Monza, were accused of benefiting from a 780-page technical document of Ferrari data that had been found in the possession of now-suspended chief designer Mike Coughlan. Coughlan had received it from the former performance director Nigel Stepney, who used to work for Ferrari.

Commentators believe that, though the fine will be a blow to McLaren’s business, it is well enough funded to survive it even if any appeal fails. In particular it is unlikely that any of the 1,000 skilled jobs at the McLaren technology centre at Wokingham will be at risk.

McLaren has not yet decided whether to appeal. Its team chief Ron Dennis said: "We believe we have grounds for appeal but of course we are going to wait for the findings of the FIA which are going to be published,"

"The most important thing is that we go motor racing this weekend, the rest of the season and next season.”

Spetember 14 2007