FIA: no conflict of interest in the sale of F1

The charges of conflict of interest in the sale of F1 at Liberty Media caused the International Automobile Federation to react, being singled out. English parliamentarian Damian Collins questioned the position of the FIA ​​which validated the purchase of the rights to the discipline from Liberty Media when it resold its shares for an amount of 80 million dollars (or approximately 74,8 million euros) according to ITV News.

The FIA ​​reacted by a statement in which she vigorously responds to these accusations.

“Following the unanimous vote of the World Motor Sport Council approving (the sale of the F1 to Liberty Media), the FIA ​​was informed of certain statements, clearly misinformed or made maliciously, on this subject. »

“The amounts injected into F1 are made in agreement with each team and the owner of the commercial rights. The FIA ​​is not aware of these agreements. »

“There is no conflict of interest on the part of the FIA ​​with regard to its approval regarding the change of ownership of commercial rights which was validated by the World Motor Sport Council after taking into consideration only the terms of the existing agreement between the owner of the rights and the FIA ​​in the best interest of the Championship. »

In accordance with the agreements signed in 2001 for one hundred years, the FIA ​​could only have objected if the change of control had materially altered the rights owner's ability to fulfill its obligations. It is clear that the takeover of F1 by Liberty does not create such a risk and that no one has ever questioned this. »

“The FIA ​​would naturally be happy to demonstrate the absence of a conflict of interest to any authority that requests it. The FIA ​​wants to continue its collaboration with Liberty and the Formula One Group to create a constructive relationship that can ensure the long-term success and development of F1. »

Anneliese Dodds, MEP of British origin and member of the Progressive Alliance of Socialists and Democrats in the European Parliament, recently made a request for an investigation, suggesting that there was indeed a conflict of interest.

“There is a clear conflict of interest in the recent sale of the discipline to Liberty Media since the regulator received $79,5 million in profits by authorizing the sale. I have written several letters to the European Commission requesting a full investigation and I am pleased that other voices in the European Parliament have supported this request,” she said.