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FIA Denies Conflict Of Interest In Approving Sale Of F1 To Liberty Media

The FIA "denied suggestions that it acted incorrectly" by approving the sale of the Formula 1 business to Liberty Media "while benefiting from its own" 1% stake in the business, according to Adam Cooper of MOTORSPORT. British MEP Anneliese Dodds, who has "regularly voiced her suspicions about anti-competitive practices in F1," recently put an "extra focus" on the sale, by successfully calling for approval for an investigation by the European Parliament, although it will not "necessarily go ahead." The FIA responded by "stressing that it still believes that there was no conflict of interest," distancing itself from the commercial agreements between the commercial rights holder and the teams, and pointing out that it "could only withhold permission for the sale if believed that the CRH could not fulfil its obligations it went ahead." In a statement referencing the sale, the FIA said that it "has been made aware of certain declarations and comments, clearly inaccurately informed or made maliciously, relating to this process" (MOTORSPORT, 2/16). AUTOSPORT's Lawrence Barretto reported the FIA "moved to distance itself from F1's unequal distribution of prize money." Also in its statement, the FIA said, "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" (AUTOSPORT, 2/16).

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