FIA counters criticism of its role in Formula 1 sale

The FIA has moved to counter what it believes is "inaccurately informed" or "malicious" questioning of its role in approving Liberty Media's takeover of Formula 1

FIA counters criticism of its role in Formula 1 sale

The FIA gave its approval for the sale of F1 to Liberty Media last month, paving the way for the deal to be completed.

There has since been suggestions of a conflict of interest given the FIA stood to gain in any sale, based on owning a 1% stake in F1.

On Tuesday, British MEP Anneliese Dodds issued a statement to Autosport saying: "There is also significant conflict of interest over the recent sale of the sport to Liberty Media, after the regulator received a $79.5million (£63.7m) profit from authorising the sale."

But having been "made aware of certain declarations and comments, clearly inaccurately informed or made maliciously, relating to this process", the FIA has defended its actions.

"The FIA would naturally be happy to demonstrate the absence of any conflict of interest to any competent authority that may so request," it said in a statement.

"There is no conflict of interest on the part of the FIA with regard to its approval of the change of control of the CRH (commercial rights holder) which has been approved by the World Motor Sport Council taking into consideration exclusively the terms of the existing agreements between the CRH and the FIA and the best interests of the championship.

"As per the agreements made in 2001 for 100 years, the FIA could only have withheld its consent in the event that the change of control would materially alter the ability of the CRH to fulfil its obligations.

"It is obvious that the taking of control of the Formula One Group by Liberty does not create such a risk, and nobody has ever suggested a different view in this respect."

The FIA also moved to distance itself from F1's unequal distribution of prize money.

"The prize money allocated in the Formula 1 world championship is done so in accordance with the bilateral agreements that exist between each team and the Commercial Rights Holder.

"The FIA has no knowledge of these agreements."

"The FIA looks forward to its collaboration with both Liberty and the Formula One Group to create a constructive relationship that will ensure the continued success and the development of the FIA Formula 1 world championship in the long term."

shares
comments
Ex-Ferrari chief Allison joins Mercedes F1 as technical director

Previous article

Ex-Ferrari chief Allison joins Mercedes F1 as technical director

Next article

Sauber F1 driver Wehrlein to miss Barcelona pre-season test

Sauber F1 driver Wehrlein to miss Barcelona pre-season test
Load comments
The drivers that need to strike gold before F1's summer break Plus

The drivers that need to strike gold before F1's summer break

OPINION: Formula 1 is about to break up for summer 2021, with the title battles finely poised. But it’s not just the latest round of Max Verstappen vs Lewis Hamilton that will be worth watching this weekend in Hungary, as plenty of drivers are eying big results to change the stories of their seasons so far

How Lotus F1 uncovered, then squandered its last ‘unfair advantage’ Plus

How Lotus F1 uncovered, then squandered its last ‘unfair advantage’

Cast in the mould of its founder Colin Chapman, Lotus was powerful and daring but 
flawed – as it proved through further soaring peaks and painful troughs into the 1980s. DAMIEN SMITH examines a game-changing era

Formula 1
Jul 27, 2021
The core problems Yas Marina’s long-awaited tweaks won't address Plus

The core problems Yas Marina’s long-awaited tweaks won't address

OPINION: Changes to the layout of Abu Dhabi’s circuit aim to reverse the trend of insipid Formula 1 races there - the promoter has even described one of the new corners as “iconic”. And that, argues STUART CODLING, is one of this venue’s abiding failings

Formula 1
Jul 26, 2021
How Ferrari offered Britain's next F1 prospect what Red Bull couldn't Plus

How Ferrari offered Britain's next F1 prospect what Red Bull couldn't

Last year's Formula 2 runner-up Callum Ilott could be on his way to becoming the first Briton to contest a grand prix in an Alfa Romeo since Reg Parnell in 1950. But, says OLEG KARPOV, the Ferrari Driver Academy protege is having to temper his ambition at the moment – outwardly at least…

Formula 1
Jul 25, 2021
The signs that point to F1's rude health Plus

The signs that point to F1's rude health

OPINION: Formula 1's calendar might still be facing disruption as the pandemic affects travel but, says MARK GALLAGHER, the business itself is fundamentally strong thanks to the epic rivalry taking place on track and the consistent arrival of new sponsors

Formula 1
Jul 24, 2021
The unexpected benefit of F1’s sprint race repeat Plus

The unexpected benefit of F1’s sprint race repeat

OPINION: Formula 1's sprint race trial at Silverstone drew mixed feedback on Saturday, but there remained the true test of how it would impact Sunday's Grand Prix. While fans were busy marvelling at Fernando Alonso's progress, a key lesson was being learned that would directly contribute to the dramatic lap one clash at Copse the following day

Formula 1
Jul 22, 2021
The off-track considerations that led to F1’s Hamilton/Verstappen Silverstone shunt Plus

The off-track considerations that led to F1’s Hamilton/Verstappen Silverstone shunt

OPINION: Formula 1’s 2021 title fight turned ugly last weekend when Max Verstappen and Lewis Hamilton collided at the start of the British Grand Prix. Verstappen thankfully walked away unharmed, but this had been a clash long-since coming

Formula 1
Jul 21, 2021
Will 2022's all-new cars look like F1's concept model? Plus

Will 2022's all-new cars look like F1's concept model?

Formula 1 provided its clearest example yet of what the 2022 cars are set to look like when it presented a full-scale concept to the world during the build-up to last weekend’s British Grand Prix. Underneath the special shiny livery was a design that hinted at the future, but teams will be digging into key areas that may reap differing results

Formula 1
Jul 20, 2021