The Motor Sport Safety Development Fund has been created to manage the distribution of the $60 million awarded to the FIA (Federation Internationale De L’Automobile) as part of the $100 million fine which was imposed on McLaren-Mercedes in 2007. Heading up the new fund as Chairman, is Michael Schumacher, seven times Formula One world champion.
The F1 Championship for 2007 has been a racing season filled with rivalry, disappointment, elation, shocking events and pleasant moments of surprise. It has been a year for F1 Grand Prix like no other. Many fans were concerned when the legendary Michael Schumacher announced his retirement, wondering if the famous tension between Ferrari and McLaren would slip into the pages of history. But those fears were laid to rest during the 2007 F1 racing season.
There has been a lot of speculation and rumors in regard to the intentions Michael Schumacher might have to purchase the Formula One Team Scuderia Toro Rosso. Schumacherâ€™s manager has been hinting at the possibility for months. For Michael Schumacher to have an interest, in a different role, in the sport he loves does not come as a big surprise. After his retirement from Formula One as a driver, the legendary seven-time world champion has been an adviser for his former Ferrari team.
He may be F1‘s most successfull driver, but that doesn’t mean the 2006 Formula One season is any easier for him. Michael Schumacher has come a long way from his first cart race at age five, to his current number 5 position in the 2006 F1 standings. From the time he became German Junior Champion in 1984, anyone associated with racing knew Schumacher had the gifts to really make an impact on the sport.
Heading into the halfway point for the 2006 F1 season, Michael Schumacher held off Fernando Alonso in a tight duel Sunday May 7th to win the San Marino Grand Prix. Schumacher covered 62 laps around the Enzo and Dino Ferrari circuit in 1 hour, 31 minutes, 6.486 seconds, with Alonso 2.0 seconds behind.