Formula 1’s mud fight is heating up – the FIA ​​president has brought the last straw

FIA president Mohammed bin Sulayem (left, with FIFA chief Infantino) disagreed with Formula 1 rights holder Liberty Media. Image: IMAGO/Mandoga Media

formulation 1

Yannick Sauer

Formula 1 is 1,000,000 greenback enterprise. Eight months a yr, groups fly round the world and compete on nearly each continent. Next season, Formula 1 will host 23 Grands Prix for the first time – by no means earlier than.

Although all this consumes some huge cash, the racing collection is very profitable. Bloomberg Liberty Media, the American media firm that owns the industrial rights to Formula 1, printed its enterprise figures for 2022 last November and did so. 715 million {dollars} have been reported.

ARCHIVE - September 4, 2022, Zandvoort, Netherlands: Motorsport: Formula 1 World Championship, Dutch Grand Prix - the race will remain on the program until 2025 (dpa:

Formula 1 is at present experiencing an actual growth.Photo: dpa / Hasan Bratic

Where a lot cash is concerned, an influence wrestle is nearly inevitable. Formula 1 additionally has behind the scenes A dispute over jurisdiction between rights holder Liberty Media and the FIA, the world’s motorsport affiliation, has raged for years. The battle-ridden historical past of the two sides just lately added a brand new chapter – which, because it seems, could finish up in court docket.

The watson app to your smartphone

Do you want studying Watson? Get our information app in your smartphone now – free of charge, in fact! Click right here for the Apple app and right here for the Playstore app. And in order for you extra, comply with us now on Instagram.

According to Liberty Media, FIA president Mohammed Ben Sulayem has precipitated financial injury to Formula 1. On Monday, he took to Twitter to remark extensively on rumors that Saudi Arabia’s sovereign wealth fund desires to purchase Formula One for $20 billion.

The FIA ​​president’s tweet has penalties

In his assertion, he urged Saudis to be smart earlier than shopping for and to have a strong, sustainable plan, not simply some huge cash. He additionally described the estimated $20 billion price ticket as “extreme.”

Liberty Media believes that Ben Sulayem went too far with this pointless intervention. The American firm instructed its legal professionals to jot down a letter to the FIA, “Sport1” studies. Accordingly, it says:

“The FIA ​​has given an unequivocal dedication that it’ll not take any motion that impacts the possession, administration and/or train of economic rights. We consider that these feedback made by the official FIA social community account. Presidents are interfering with these rights in an unacceptable method.”

The FIA ​​additionally maintains that Liberty “could also be held liable” for any damages precipitated.

Sport1 claims it is aware of Liberty Media is fascinated with promoting Formula 1 to the Saudis subsequently hoping to attain most revenue. So they need to now take motion in opposition to Ben Sulayem, who threatened to interrupt the deal for them.

It is mentioned that Liberty desires to ship out Ben Sulayem

The sports activities information company additionally speculated that the FIA ​​president, who has taken a good view of racing circumstances in Saudi Arabia, could also be on a mission to drive down costs for potential Saudi patrons.

As such, Liberty is already wanting internally at Ben Sulayem’s seat and attempting to ascertain British David Richards as his successor at the FIA. Richards was a group director at Benetton and BAR.

Bayern desires every little thing. The report champions are nonetheless in all three competitions and have the probability to win the league, cup and UEFA Champions League titles.

Leave a Comment

Your email address will not be published. Required fields are marked *