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McLaren will pay a sum ‘in excess of $50 million’ to the FIA in December, it was confirmed on Wednesday. McLaren were fined, and excluded from the 2007 constructors’ championship, after it was decided they had exploited confidential technical information obtained from Ferrari.

The FIA will use the money to establish the FIA Development Fund, which will assist National Sporting Authorities to promote the development of safer motor sport throughout the world. The new body will pay particular attention to countries where the motor sport infrastructure is in need of support.

Representatives from Mercedes and Ferrari have been invited by the World Motor Sport Council to join the board.

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