Formula One Administration

From Wikipedia, the free encyclopedia

Formula One Administration Ltd. or FOA is a company which holds the commercial rights to Formula One. These rights are granted to FOA by the FIA under the terms of the Concorde Agreement and are managed by Formula One Management Ltd.

FOA is a subsidiary of Formula One Holdings and ultimately Alpha Prema. (see table).

In its annual accounts filed with Companies House, FOA reported turnover of $750 million and pre-tax profits of $447 million (up from $215m in 2003 and $127m in 2002). This has allowed the company to slash its debts by $347 million to $121 million. [1]