A few moments ago in a joint press release, Sahara Force India and the Alfa Romeo Sauber F1 Team have declared that they are to withdraw the complaint that was lodged with the European Commission in 2015 on the subject of anti-competitive practices in the sport of Formula 1. The withdrawal is effective immediately.
The original complaint was filed in Brussles in September 2015. According to the submittal, bot teams held a united front, stating they were “questioning the governance of Formula One and showing that the system of dividing revenues and determining how Formula One’s rules are set is both unfair and unlawful.”
The release reads:
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 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 compliant 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.
It’s good news for Force India, Alfa Romeo Sauber and Liberty Media, as they focus on delivering their vision for Formula One in 2018.