F1 boss donates $1m to start diversity fund

Chase Carey

Formula 1 CEO Chase Carey has made a personal donation of $1 million to start a diversity fund run by the championship.

The fund’s announcement follow’s the launch earlier this week of F1’s ‘#WeRaceAsOne’ initiative, and another recently from Lewis Hamilton, designed to promote STEM (Science, Technology, Engineering, Mathematics) studies and eventual F1 employment for black youth.

The championship’s programme has similar aims but is intended for “under-represented groups” more broadly.

“We fully recognise that Formula 1 needs to be more inclusive and diverse,” said Carey.

“While we set out our strategy last year to improve the position of our sport, we need, and want, to do more.

“That is why we will establish a Task Force to listen and ensure the right initiatives are identified to increase diversity in Formula 1.

“We want to ensure we give people from all backgrounds the best chances to work in Formula 1 regardless of their gender, ethnicity, sexual orientation, or physical abilities.

“We are therefore also taking the initial step of creating a foundation to support key educational and employment opportunities across Formula 1 that will give under-represented talent the chance to work in this incredible sport and build an exciting career.”

The foundation is earmarked to finance internships and apprenticeships in F1, and will take input from drivers, teams, and “external diversity and inclusion experts”.

It will be established “over the next few months”, according to F1’s announcement.

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