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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.

Toyota victorious in Bahrain on Porsche’s LMP1 swansong

Toyota Motorsport GmbH
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SAKHIR, Bahrain – Toyota denied Porsche a swansong victory in its final LMP1 appearance in the FIA World Endurance Championship by taking a commanding win in the 6 Hours of Bahrain on Saturday.

Porsche started from pole in the last competitive outing for the three-time Le Mans-winning 919 Hybrid car, only to lose out to Toyota’s Sebastien Buemi within the first half an hour of the race.

Porsche lost one of its cars from contention for victory after an errant bollard got stuck underneath Timo Bernhard’s No. 2 entry, leaving Nick Tandy to lead its charge in the No. 1 car.

Tandy moved into the lead just past half distance after a bold strategy call from Porsche to triple-stint the Briton after a fuel-only stop, vaulting him ahead of Anthony Davidson in the No. 8 Toyota.

Tandy’s win hopes were soon dashed when he tangled with a GTE-Am backmarker at Turn 1, sustaining damage that forced Porsche into an unplanned pit stop that put the car a lap down.

With the No. 7 Toyota losing two laps following a clash with a GTE-Pro car earlier on, Davidson, Buemi and Kazuki Nakajima went unchallenged en route to the car’s fifth victory of the season.

Porsche rounded out the podium with its cars, with the No. 2 leading home the No. 1, leaving Toyota’s No. 7 car to settle for P4 at the checkered flag.

Vaillante Rebellion clinched the title in LMP2 after a stunning fightback led by Bruno Senna, with the Brazilian securing his maiden motorsport championship win in the process.

GTE-Pro saw AF Corse complete a hat-trick of titles in 2017, with James Calado and Alessandro Pier Guidi wining the class’ first world championship recognized by the FIA, while Paul Dalla Lana, Pedro Lamy and Mathias Lauda sewed up the GTE-Am title.