FIA doubles down in feud with Formula 1 chiefs over sale: 'The championship is ours'
FIA President during the Rallye Automobile Monte Carlo
FIA president Mohammed Ben Sulayem appears to be at odds with Formula 1's bosses over rumours of a potential sale of the premier motorsport series' rights.
It all started earlier in the week when a report dropped suggesting Formula 1 had rejected a massive $20-billion bid from Saudi-backed investment fund the PIF to purchase the rights to the sport.
It came with a caveat that even though the initial bid had been rejected, there was a strong likelihood of the PIF coming back with another, bigger offer.
This prompted Ben Sulayem to urge caution, suggesting that $20-billion was an overinflated price.
Formula 1 bosses hit back by stating the FIA chief had overplayed his hand and sent him a strong-worded lawyer's letter.
"Formula 1 has the exclusive right to exploit the commercial rights in the FIA Formula One World Championship," it read.
"Further, the FIA has given unequivocal undertakings that it will not do anything to prejudice the ownership, management and/or exploitation of those rights."
"We consider that those comments, made from the FIA President's official social media account, interfere with those rights in an unacceptable manner."
However, Ben Sulayem and the FIA may have more power than F1 suggest. The commercial rights agreement with Liberty Media is a 100-year lease from the FIA and the original agreement apparently had a "Don King Clause" that gives the FIA veto rights on any change of ownership.
"The championship is ours, we have only rented it out," Ben Sulayem said.
"So far there are only rumours about a possible sale. But the FIA should have a say and be able to offer advice."
