FIA president Todt also wants slice of F1 money pie

(L to R): Bernie Ecclestone (GBR) CEO Formula One Group (FOM) and Jean Todt (FRA) FIA President. Formula One World Championship, Rd3, Chinese Grand Prix Qualifying, Shanghai, China, Saturday 14 April 2012.May 24 (GMM) As powerful businessmen slice up the Formula 1 pie, the sport’s governing body also wants a piece of the action.

Amid all the talk about the planned multi-billion Singapore floatation, a crucial detail has been missing: the sanctioning body, the Paris based FIA, is yet to sign the new Concorde Agreement.

Sky News reported on Thursday that president Jean Todt has appointed an investment bank to advise on the implications of the current goings-on.

“This is a pretty naked effort by the FIA to get its hands on part of the economic value that F1’s management and owners have created,” an insider said.

“They are moving on this now because it is the moment of maximum disruption.”

Another missing piece of the puzzle is Mercedes‘ signature, as the carmaker’s disagreement with Bernie Ecclestone threatens to blow a hole in the sport’s valuation.

“I think we’ve got a long way to go before we arrive at the final solutions,” team boss Ross Brawn told reporters in Monaco.

“I don’t think things are closed yet.”