Formula 1: Fia angered F1: hot letter because of takeover rumours

Formula 1: Fia angered F1: hot letter because of takeover rumours

FIA President Mohammed Ben Sulayem is causing trouble in Formula 1. Photo: Erwin Scheriau/APA/dpa

It falls between Formula 1 and the World Automobile Association. The reason for this is the statements made by the President of FIA regarding the claim of wanting to take it worth billions.

London – The dispute between Formula 1 and the world motor association FIA is intensifying.

Statements by FIA President Mohammed Ben Sulayem (61) about the alleged takeover of billions of dollars from Saudi Arabia “will interfere with our rights in an unacceptable way,” criticized the first division of motor sport and its owner Liberty Media, according to media reports of information. , in a letter. “To the extent that these comments damage the value of Liberty Media Corporation, Fia may be held liable.”

Ben Sulayem had described a bid to take over Formula 1 worth more than 20 billion US dollars (about 18.4 billion euros) allegedly taken by Saudi Arabia’s sovereign wealth fund last year as excessive. The current owner of Formula 1 Liberty Media had paid about 4.4 billion US dollars in 2017. Ben Sulayem also composed advice for buyers.

A strongly worded letter

The strongly worded letter to the FIA ​​notes that Formula 1 was guaranteed “the exclusive right to use the commercial rights to the FIA ​​F1 World Championship” as part of the 100-year contract. /or exploitation of these rights.”

The circumstances in which the Fia would play a role in potential changes to the ownership structure in the Formula 1 group are “very slim,” it said.

In the past, the FIA ​​boss has repeatedly caused problems for Formula 1 management. He publicly supports the expansion of the starting field to include the American project of Michael Andretti and Cadillac. But most of the top ten current racing teams don’t want to share the billions in growing revenue with foreigners. The racing giants, for their part, don’t want to upset the existing teams.