The complaint lodged with the European Union Competitions Commission against Formula 1 by Force India and Sauber has been withdrawn.
The two F1 teams had lodged an official complaint with the commission back in September 2015 stating that the division of revenues and the rules were “unfair and unlawful”.
Ferrari, Red Bull, Mercedes, McLaren and Williams are entitled to a preferential financial payment from the prize money besides the funds earned from the constructors’ championship.
The complaint was being investigated by a newly created wing of the commission that started in April 2016. Although the case has been open for a while, it was progressing slowly through the system.
But a lot has changed since the time the complaint was filed. Liberty Media took over the commercial rights from CVC at the beginning of 2017. In their first year of operations, Liberty has been working hard towards creating a fairer playing field.
The teams released a joint statement confirming they have “decided to withdraw the complaint we lodged with the European Commission in 2015 on the subject of anti-competitive practices in the sport of Formula 1,”
It continued: “We have been greatly encouraged by the dialogue that has been introduced following the appointment of Chase Carey as executive chairman and CEO of the Formula 1 commercial rights holder and his new management team.
“Their approach has brought a new culture of transparency to the sport and illustrates the willingness to debate fundamental issues such as the distribution of the prize fund monies, cost control and engine regulations.
“We are encouraged and reassured by the even-handed and fair negotiating approach taken by the new management of Formula 1 to all the teams and their issues.
“While the concerns leading to the complaint were fully justified, we believe this new approach provides the necessary degree of assurance that our concerns will be looked at objectively, and we prefer to resolve the issues facing the sport through dialogue rather than a legal dispute.
“We want to support this transformational process in Formula 1 and thus have resolved to withdraw our complaint with immediate effect.”
