With takeover chatter around F1, and the FIA president having had his say, Formula_Nerds explain how the 100-year agreement plays a major role in all of this...
“The FIA rules are not used to prevent or impede new competitions unless justified on grounds related to the safe, fair or orderly conduct of motor sport;This was when the FIA sold all its rights to the FIA Formula One World Championship and how it led to the 100-year agreement.Why was it mentioned in the situation between the FIA and Liberty Media?
He said: “As the custodians of motorsport, the FIA, as a non-profit organisation, is cautious about alleged inflated price tags of $20bn being put on F1. “It is our duty to consider what the future impact will be for promoters in terms of increased hosting fees and other commercial costs, and any adverse impact that it could have on fans.”
However, they can’t interfere in any commercial rights discussions. They can advise, however, it is all down to Liberty Media who paid for such rights and now rightfully owns them. If the FIA interferes with that, then it’ll receive a knock on its door from the European Commission.
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