Formula 1 CEO and chairman Chase Carey has personally contributed $1 million to a new foundation as part of the sport’s #WeRaceAsOne initiative to increase diversity and opportunity.
Following an announcement of the initiative earlier this week, F1 has outlined further steps it is taking to try and provide greater opportunities, with a foundation being set up with the primary intention of financing apprenticeships and internships within the sport for under-represented groups. The foundation’s intention is to ensure those that are under-represented have access to a promising career in F1, and the full start-up funding is being provided by Carey (pictured above), with the sport hoping that amount will grow over time.
“We fully recognize that Formula 1 needs to be more inclusive and diverse,” Carey said. “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.”
As part of the original announcement about the #WeRaceAsOne initiative, F1 pledged to create a task force that will “be specifically focused at identifying the employment and education opportunities for under-represented groups,” and taking the required action to address its findings. The task force will be established over the next few months, featuring input from drivers and teams as well as experts.