World community slams Formula 1: fire letter over speculation – 24.01.23 – News

Tuesday, 24.01.2023 from 17:13

dpa-AFX

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LONDON / PARIS (dpa-AFX) – The dispute between Formula 1 and the world automotive affiliation Fia is intensifying. The assertion by FIA president Mohammed Ben Sulayem (61) a couple of multibillion-greenback buy from Saudi Arabia “intolerably interferes with our rights”, in keeping with media experiences, criticized the primary class of motorsport and its proprietor Liberty Media. , in a letter on Tuesday. “To the extent that these feedback undermine the worth of Liberty Media Corporation, Fia could also be held liable.”

Ben Sulayem Saudi Arabia’s sovereign wealth fund final 12 months described a bid of greater than US$20 billion (about 18.4 billion euros) to purchase Formula 1 as extreme. Liberty Media, the present proprietor of Formula 1, paid about US$4.4 billion in 2017. Ben Sulayem suggested potential patrons.

The strongly worded letter to FIA factors out that as a part of the 100-12 months contract Formula 1 has been assured “unique rights to use business rights to the F1 World Championship”. “The FIA ​​has made an unequivocal dedication that it’s going to not do something to intrude with the possession, administration and/or use of those rights.”

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