F1 bosses have hit out at Mohammed Ben Sulayem over comments he made about the value of the competition.
Recent reports stated Saudi Arabia’s Public Investment Fund (PIF) had attempted to buy F1 for a staggering £16bn with FIA chief Ben Sulayem addressing the claims on social media.
He claimed the amount was an “inflated price tag being put on F1” before adding: “Any potential buyer is advised to apply common sense, consider the greater good of the sport and come with a clear, sustainable plan – not just a lot of money.”
Relations between F1 chiefs and the FIA have strained in recent months over the running of the sport and a letter was written to Ben Sulayem this week, hitting out at his “unacceptable” comments.
The two organisations are different entities, with the FIA owning the championship and acting as its governing body. The commercial rights to the sport itself are owned by Liberty Media and F1 has its own leadership – headed by chief executive Stefano Domenicali.
“The FIA has given unequivocal undertakings that it will not do anything to prejudice the ownership, management and/or exploitation of those rights,” F1’s lawyers wrote.
“We consider that those comments, made from the FIA President’s official social media account, interfere with those rights in an unacceptable manner.
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“Commenting on the value of a listed entity, especially claiming or implying possession of inside knowledge while doing so, risks causing substantial damage to the shareholders and investors of that entity, not to mention potential exposure to serious regulatory consequences.
“To the degree that these comments damage the value of Liberty Media Corporation, the FIA may be liable as a result.”
The FIA has declined to comment with Ben Sulayem having got himself involved in a matter that is simply not within his remit.
The 2023 F1 season gets underway in Bahrain on March 3 as Max Verstappen goes in search of a third consecutive world championship crown.
