FIA, Circuit de Catalunya, 2016

FIA wants more details on F1’s sale to Liberty

2016 F1 season

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The FIA wants more details about Formula One’s sale to Liberty Media Group, which was announced yesterday.

The sport’s governing body pointed out in a statement it was not involved in the sale of the sport.

“The FIA, the governing body of the Formula One World Championship, was recently informed of the intention of Liberty Media Corporation to acquire Delta Topco, the parent company of the Commercial Rights Holder organisation of Formula One from CVC Capital Partners,” it said.

“The FIA was obviously not party to the negotiations surrounding the intended sale. As such, the Federation awaits further information regarding the proposed terms of the transaction and welcomes the opportunity to discuss with all parties the possible consequences of this agreement on the promotion of the FIA’s flagship championship.”

The FIA is barred from being involved in commercial aspects of Formula One under the terms of an agreement reached with the European Union in 2001.

FIA President Jean Todt said: “While it remains to be seen how this acquisition will influence the promotion of the FIA Formula One championship, we welcome this long-term investment in Formula One by a company that has such a broad portfolio of sports, media and entertainment businesses.”

“As motor sport’s governing body and regulator we acknowledge Liberty Media’s wide expertise in these fields and we look forward to working in close partnership with them in the future in order to further develop Formula One and bring it to new generations of motor sport enthusiasts around the world.”

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Keith Collantine
Lifelong motor sport fan Keith set up RaceFans in 2005 - when it was originally called F1 Fanatic. Having previously worked as a motoring...

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  • 2 comments on “FIA wants more details on F1’s sale to Liberty”

    1. The FIA is not supposed to be involved in commercial aspects of F1, but owns a 1% stake in FOM and has a veto on the sale of any part of F1 that affects the identity of the commercial rights holder. The lawyers are likely to have fun with this one…

    2. That the FIA was not even informed by FOM or CVC directly about the sale says all that needs to be said about the role the FIA currently plays in the real world decisions re: F1…

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