F1
F1 and Liberty Media sharply warn the FIA and Mohammed Ben Sulayem!
Between Stefano Domenicali (F1) and Mohammed Ben Sulayem (F1), each file is an opportunity to tackle! © DPPI
The off-season is not easy between the International Automobile Federation and the Formula 1. In fact, quite the opposite is happening in January 2023. A few weeks after publicly taking two different positions regarding the possible arrival of Cadillac / Andretti as a team, the FIA and F1 are are discussing a new subject: the possibility of buying F1 for a value of 20 billion dollars.
This astronomical amount came out in a Bloomberg report according to which the Saudi Arabian Public Investment Fund (PIF) would have assessed such a sum to buy the sport from the Americans Liberty Media.
ALSO READ > Sale of F1: The FIA wants to have its say
The President of the FIA, Mohammed Ben Sulayem, was quick to react on his Twitter account through a series of messages. According to him, this figure of 20 billion dollars is “exaggerated” and the former pilot of rally fears a speculative bubble which could have unfortunate consequences for sport.
“Any potential buyer is advised to use common sense, explained Mohammed Ben Sulayem in a series of tweets posted Monday, January 23 in the evening. He must take into account the good of the sport and come up with a clear and sustainable plan – and not just a lot of money!
It is our duty to consider what the future impact of any sale would be on promoters in terms of increased accommodation fees and other commercial costs, and any negative consequences this may have on fans.
As the guardian of motorsport, the non-profit FIA is cautious about the so-called inflated price tags being placed on F1.
ALSO READ > Saudi Arabia interested in buying F1?
Liberty Media's reaction is more than scathing. According to information revealed by our colleagues at the BBC, the owners of F1 accuse Mohammed Ben Sulayem of remarks “ unacceptable » !
Liberty Media and F1 wrote a letter this Tuesday, January 24 addressed to the FIA. This is signed by the names of Sacha Woodward Hill, legal director of F1, and Renee Wilm, who plays the same role for Liberty Media.
The terms are harsh. It is written that the words of the President of the FIA “exceed the limits of the FIA’s powers and contractual rights”.
The letter adds that the FIA “could be held responsible” of any damage caused to the value of Liberty Media
CARhebdo received confirmation of this information reported by our colleagues at the BBC.
Medhi Casaurang
Passionate about the history of motorsport across all disciplines, I learned to read thanks to AUTOhebdo. At least that's what my parents tell everyone when they see my name inside!
Read also
Comments
*The space reserved for logged in users. Please connect to be able to respond or post a comment!
0 Comment (s)
To write a comment
0 View comments)