MX23RW : Tuesday, September 18 23:43:24

French authorities investigate Liberty takeover

French anti-corruption authorities are investigating the FIA over Liberty Media's acquisition of Formula 1.

French anti-corruption authorities are investigating the FIA over Liberty Media's acquisition of Formula 1.

The New York Times reports that the body called Parquet National Financier is concerned the Paris-based federation approved the sale of the sport to Liberty despite holding a stake.

The FIA denies that it was a conflict of interest.

"We are entirely confident that any investigation would find that the FIA has acted appropriately at all times, and we stand ready and willing to cooperate with any enquiries should any investigation be commenced or clarification sought by the appropriate authorities," the governing body said.

Britain's Serious Fraud Office is also investigating the sale.

The FIA's 1% stake in the sport was agreed in 2013 between president Jean Todt and former F1 chief executive Bernie Ecclestone.

"This is what they wanted in order for them to go along with it," Ecclestone said.

"A lot of things happen in business that if you look at it you can't understand why it is allowed to happen. Somebody said to me there's a problem.

"I think in the end people were part of it in France and they'll have a look at these things if they think it's wrong."

A spokesperson for Liberty did not comment.

Share this article now:
Spanish GP 2014
Read Next:
Gasly thinks Honda relationship will help in 2018
>

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel

Subscribe to our Newsletter


Transfer Talk Daily
Match previews - twice weekly
Morning Briefing (7am UTC)
Ultra close-up image of Kevin De Bruyne [NOT FOR USE IN ARTICLES]Get the latest transfer news, match previews and news direct to your inbox!

Loading ...

Failed to load data.

Loading ...

Failed to load data.

Select and display your favourite team's news and scores in this panel
Login, I already have my ad-free pass
Log in to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account