The FIA has strongly criticised reports that is had acted improperly in regard to the sale of Formula One to Liberty Media.
The sport’s governing body denied any conflict of interest over the sale and said it is willing to demonstrate the same to “any competent authority that may so request”.
The FIA also addressed criticism of the distribution of prize money within Formula One, saying it has “no knowledge” of how Formula One distributes earnings between teams.
“Following the unanimous approval by the World Motor Sport Council of the change of control of Delta Topco Limited (the holding company of the Commercial Rights Holder of the FIA Formula One World Championship) from CVC Capital Partners in favour of Liberty Media Corporation on 18 January 2017, the Federation Internationale de l’Automobile (FIA) has been made aware of certain declarations and comments, clearly inaccurately informed or made maliciously, relating to this process,” it said in a statement.
“In light of this, the FIA wishes to make clear the following once again:
“Firstly, the prize money allocated in the Formula One World Championship is done so in accordance with the bilateral agreements that exist between each team and the Commercial Rights Holder (CRH). The FIA has no knowledge of these agreements.”
“Secondly, 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 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 would naturally be happy to demonstrate the absence of any conflict of interest to any competent authority that may so request.”
“Once again, 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 One World Championship in the long term.”
2017 F1 season
- Stripping Verstappen of 2017 US podium was “one of the toughest decisions” – steward
- Sepang pays Haas compensation for Grosjean’s 2017 crash
- Williams revenues rose in 2017 after Bottas deal with Mercedes
- New kerbs at COTA in response to Verstappen’s corner-cutting
- Australian Grand Prix cost government £56 million last year