FIA denies 'conflict of interest'

F1's governing body hits back at reports a "conflict of interest" could be set to trigger a full European investigation into the sport.

Formula 1's governing body has hit back at reports that a "conflict of interest" could be set to trigger a full European investigation into the sport.

The European Parliament this week voted through calls for an investigation into governance, income, and the fact that a 1% shareholding netted the FIA a $80m (£64m) windfall after approving the Liberty Media buyout.

In a statement on Thursday, the FIA said that it "has been made aware of certain declarations and comments, clearly inaccurately informed or made maliciously, relating to this (sale) process".

The reports had alleged that the FIA's dual role as a regulator and a co-owner violated an earlier agreement that could now see F1's commercial contracts declared illegal.

However, the FIA said "there is no conflict of interest", adding that it would "be happy to demonstrate the absence of any conflict of interest to any competent authority that may so request".

Pirelli Cinturato intermediate tyres during previews to the Australian Formula One Grand Prix at Albert Park on March 17, 2016
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