News Details
Formula 1 takeover must clear two hurdles
Formula 1 takeover must clear two hurdles F1's sale to US tycoon John Malone's Liberty Media is yet to clear two significant hurdles. The first 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...
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8y ago from ThisIsF1.com
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