Mar.26 (GMM) Seven time world champion Michael Schumacher has been appointed to the body that will distribute the $60 million cash 'spy fine' paid by McLaren-Mercedes to the FIA.



The German 39-year-old, who is also an advisor to the Ferrari team, will join FIA president Max Mosley on the management committee of the fund, and representing the manufacturers involved in the espionage saga are Jean Todt (Ferrari) and Mercedes' Norbert Haug.



A statement issued by F1's governing body said the $60m would be called the Motor Sport Safety Development Fund, and be used "for the benefit of motor sport worldwide".



"The intention is to disperse the fund over the next five years", the FIA added.