FIA fights back in MEP’s conflict of interest claim

Date published: February 16 2017

The FIA have released a statement to address the 'clearly inaccurately informed' suggestion that they have acted improperly in the sale to Liberty Media.

British MEP Anneliese Dodds has led the calls for an investigation to take place over the 'anti-competitive' nature of Formula 1 and also believes that the FIA should be held to account of a suspected 'conflict of interest'.

Dodds initially wrote: "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.

"I have written a number of letters to the European Commission calling for a full investigation and I am grateful that the rest of the European Parliament has added its voice to this call."

However, the FIA has released a lengthy response to the accusations and are adamant they have behaved correctly throughout the entire takeover process.

A statement read: "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."

"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."

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