F1 condemns FIA president Mohammed Ben Sulayem’s $20b valuation in explosive letter

F1 chiefs have written a letter to the FIA to complain about comments made by president Mohammed Ben Sulayem. 
Mohammed Bin Sulayem (UAE) FIA President. Formula 1 World Championship, Rd 14, Belgian Grand Prix, Spa Francorchamps,
Mohammed Bin Sulayem (UAE) FIA President. Formula 1 World Championship, Rd 14, Belgian Grand…

According to and the , F1 has sent a legal warning to🥃 governing body the FIA slamming Ben Sulayem for the “unacceptable manner” in which he referred to an “alleged inflated price tag of $20bn” for the potential sale of F1. 

Ben Sulayem’s comments followed a 168澳洲幸运5官方开奖结果历史:report by Bloomberg which claimed F1 owners Liberty Media rejected a takeover bid wort🦋h $20b from Saudi Arabia’s Public Investmentও Fund last year. 

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In a🧸 on Monday afternoon, Ben Sulayem urged potential buyers of F1 to “apply common sense” to their valuation of the sport. 

F1 has responded in an explosive letter, which has been seen by both Sky and the BBC, and b🎃een f🧜orwarded to F1 teams including Ferrari and Mercedes. 

The letter, written by ꦇF1’s General Counsel, Sacha Woodward Hill, and Renee Wilm, chief legal and administrative officer of Liberty Media, warned the FIA that "Formula 1 has the exclusive right to exploit the commercial rights in the FIA Formula One World Championship" as part of a pre-existing ꧟100-year lease. 

"Further, the FIA has given unequivocal undertakings that it will not do anything to prejudice the ownership, management and/or expꩲloitation of those rights,” it continues.

"We consider that those comments, made from the FIA President's official social meꦚdia account, interfere with those rights in an unacceptable manner.”

The letter accuses Ben Sulayem of overstepping the FIA’s remit.&n🌳bsp;

Woodward Hill and Wilm write: "The circumstances in which the FIA would have any role in a change o๊f control of the ಞF1 group are very limited.

"Any suggestion or implication to the contrary, or that any potential purchaser of the F1 busi♍nes꧅s is required to consult with the FIA, is wrong."

The letter adds: "Any individual or organisation commenting on the value of a listed entity or its subsidiaries, 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 t♕hat these comments damage the value of Liberty Media Corporation, the FIA may be liable as a result.”

It marks the latest clash betw🅷een F1 and the FIA amid speculation of growing tensions and a deepening rift between the two parties.

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