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FIA and EU Commission hurdles remain for Liberty buyout
Formula 1's sale to US tycoon John Malone's Liberty Media is yet to clear two significant hurdles, first and possibly foremost is the approval of the sport's governing body, the FIA. FIA president Jean Todt said in a statement that while he welcomes the 'long-term investment' by an impressive company, the FIA needs 'further information' about the 'possible consequences' of the deal. The second hurdle is the European Commission. Firstly, the EC must simply approve a transaction of this sort, but F1 business journalist Christian Sylt also warned of a potential 'conflict of interest'. That is because the FIA has a dual role as an approver of the buyout deal as well as a potential beneficiary...
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9y ago from GrandPrix247.com
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