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FIA responds to ‘malicious’ reports regarding sale of F1, rejects conflict of interest

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The FIA has responded to “malicious” reports regarding the sale of Formula 1 to Liberty Media last month, denying it had a conflict of interest in the deal.

Liberty Media announced in September last year that it had agreed to acquire F1 for $8 billion, with the takeover being completed last month.

American executive Chase Carey has become F1’s new CEO and chairman following Bernie Ecclestone’s resignation, and will work alongside commercial chief Sean Bratches and sporting managing director Ross Brawn to run the sport.

On Thursday, the FIA issued a statement responding to recent reports suggesting that it had a conflict of interest in approving F1’s sale to Liberty given to its one per cent shareholding in the previous holding company, Delta Topco.

Here is the statement in full from the FIA.

Following the unanimous approval by the World Motor Sport Council of the change of control of Delta Topco Limited (the holding company of the Commercial Rights Holder of the FIA Formula One World Championship) from CVC Capital Partners in favour of Liberty Media Corporation on 18 January 2017, the Fédération Internationale de l’Automobile (FIA) has been made aware of certain declarations and comments, clearly inaccurately informed or made maliciously, relating to this process.

In light of this, the FIA wishes to make clear the following once again:

  • 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.

The FIA would naturally be happy to demonstrate the absence of any conflict of interest to any competent authority that may so request.

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.

Michael Andretti looking forward to new Australian Supercars venture

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If it seems like Michael Andretti is out to conquer the world, he is – kind of.

The former IndyCar star turned prolific team owner has won three of the last four Indianapolis 500s and five overall, second only to Roger Penske’s 16 Indy 500 triumphs.

Along the way, in addition to expanding his own IndyCar and Indy Lights operation, the son of Mario Andretti and the primary shareholder of Andretti Autosport has also branched out into Global RallyCross and Formula E racing in recent years.

And now, Andretti has further expanded his brand internationally, following Penske to the world down under — as in the world of Australian V8 Supercars.

Andretti has teamed with Supercars team owner Ryan Walkinshaw, along with veteran motorsports marketer and executive director of McLaren Technology Group and United Autosports owner and chairman, Zak Brown.

Together, the three have formed Walkinshaw Andretti United, based in suburban Melbourne, Australia. The new team kicks off the new season with the Adelaide 500 from March 1-4.

“It’s just extending our brand and putting it out there,” Andretti told NBC Sports. “The Supercars are such a great series.

“It all started with Zach Brown calling me and said ‘You have to talk to Ryan Walkinshaw. He’s got something interesting to talk to you about.’

“We talked and literally in like a half-hour, we said, ‘Let’s figure out how we’re going to make this work.’ And then Zack was like, ‘Hey, what about me?’ And then Zack came in as a partner and it’s cool now that we have the Walkinshaw Andretti United team.

“I’m really excited about that program, the guys at the shop are excited about it, we’ve been doing a lot of things to try and help it because it’s such a cool series and the cars are so cool.

“I went down there to Bathurst, which was to me one of the coolest tracks in the world. I wish I could have driven it, I really do. It looks like a blast.

“It’s amazing how big that series is when you go down there. It’s one of the biggest sports in Australia. It was just a great opportunity for us to extend our portfolio.”

Admittedly, Andretti had some extra incentive to want to get involved in the Supercars world: Penske joined forces with legendary Dick Johnson Racing in September 2014.

The organization came together quickly and the rebranded DJR Team Penske went on to win the 2017 V8 Supercars championship.

“Roger was down there the last few years,” Andretti said, adding that fact as incentive to get his own organization into the series. “So it’s cool to go race head-to-head with Roger. That was also in the back of our minds.”

This is no start-up venture for Andretti. The roots of the new venture began in 1990 as the Holden Racing Team, which went on to become one of the most successful organizations in Australian V8 Supercar racing, having won the drivers’ championship six times and the Virgin Australia Supercars Championship’s top race, the Bathurst 1000 (essentially Australia’s version of the Indy 500), seven times.

Last season, Holden Racing team morphed into Triple Eight Race Engineering and was renamed Mobil 1 HSV Racing.

And now the company has been renamed once again for the 2018 campaign under the Walkinshaw Andretti United banner.

The team will be composed of two Holden ZB Commodores with drivers James Courtney and Scott Pye, as well as a Porsche 911 GT3-R in the Australian GT championship.

What’s next for Andretti’s motorsports portfolio? Right now, it’s pretty full, but you can bet running for championships from Australia (Supercars) to globally (GRC) to Indianapolis (Indy 500) to the U.S. (Verizon IndyCar Series) are at the top of this year’s list.