F1 owners furious with FIA over president’s ‘inflated’ valuation comment

Ben Sulayem, elected in 2021 to the top job at F1’s governing body, posted on Twitter on Monday after Bloomberg reported Saudi Arabia’s Public Investment Fund (PIF) explored a bid for more than that amount. The FIA ultimately owns the rights to the championship but signed them over to Bernie Ecclestone’s Formula One Management in a 100-year deal in 2001 as part of a separation of commercial and regulatory activities. “We consider that those comments, made from the FIA president’s official social media account, interfere with those rights in an unacceptable manner.”. The letter, sent to the FIA’s World Motor Sport Council, said the comments risked exposure to “serious regulatory consequences” and the FIA could also be liable.

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