F1 sends incendiary letter to FIA after Mohammed Ben Sulayem's ‘inflated price tags of $20bn' claim [CNBC]
Liberty Media Corporation - Series A Liberty SiriusXM (LSXMA)
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Source: CNBC
After reports of a $20 billion (£16.3 billion) Saudi Arabian bid to buy F1's commercial rights, Ben Sulayem raised concerns on Twitter about the potential consequences of an “inflated” takeover such as higher ticket prices for fans if the new owners tried to recoup their investment. He added that a potential buyer of F1 should “come with a clear, sustainable plan — not just a lot of money.” Sky Sports News revealed on Monday his remarks angered senior F1's officials and now legal bosses have written to the FIA warning that Ben Sulayem's tweets had “interfered with our rights in an unacceptable manner” In a letter first reported by Sky News, but also seen by Sky Sports News, F1 general counsel, Sacha Woodward Hill, and Renee Wilm, chief legal and administrative officer of Liberty Media Corporation , F1's controlling shareholder, have accused the FIA — motorsport's governing body — of straying beyond its remit. The letter has also been circulated to all 10 F1 teams. Sky Sports
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