The FIA has responded to the accusation of conflict of interest with the approval of the sale of 1% of its shares in the Formula 1 company, Liberty Media and the unfair distribution of prize payouts.
“After the unanimous approval of the world Council of Motorsport the transfer of control of Delta Topco Limited (the holding company of the holder of the commercial rights of Formula 1) from CVC Capital Partners Corporation Liberty 18 January 2017, the FIA received a number of comments that were either inaccurate or were made in bad faith, – is told in the statement of the International automobile Federation. In this regard, the FIA wants to clarify.
First, the prize money generated in Formula 1, are separated in accordance with the bilateral agreements that exist between each team and the commercial rights holder. FIA is not aware of these agreements.
The European Parliament approved the investigation policy of the FIA in relation to F1
Second, there is no conflict of interest with the FIA in connection with the change of ownership of the commercial rights, which was endorsed by the world Council of Motorsport. Was taken into consideration the exceptional conditions of existing agreements between the owner of the commercial rights and the FIA and adhered to the interests of the championship.
In accordance with the agreements entered into in 2001 for a period of 100 years, the FIA has the right to refuse if the change of ownership will affect the ability of the commercial rights holder to perform its obligations. It is obvious that the transfer of the Formula One Group under the control of Liberty does not carry this risk, and a different point of view in this respect has never been.
FIA, of course, will be glad to demonstrate the absence of any conflict of interest to any competent authority in the event of receipt of the request.
Again, the FIA looks forward to working with Liberty and the Formula One Group, to create a constructive relationship that will ensure the continued success and development of Formula 1 in the long term.”
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