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F1 could face huge $168-million fine

2017-02-14 07:57

POTENTIAL FINE: Politicians want the European Commission to look into how prize money is distributed, tax arrangements, and the FIA's financial windfall as a result of the Liberty Media buyout. Image: AP / Antonio Calanni

  Video

F1 cars are capable of speeds up to 375km/h, and what better way to see just how fast they really are with a side-by-side comparison against a 'normal' GT racing car at Spa-Francorchamps.

London - Formula 1 is inching closer to a full investigation by the European Commission.

That is the claim of London's Times newspaper, revealing that politicians want the body to look into how prize money is distributed, tax arrangements, and the FIA's financial windfall as a result of the Liberty Media buyout.

'Competition concerns'

In the parliament's latest competition report, politician Anneliese Dodds "calls for an immediate investigation into competition concerns arising from the F1 motorsport industry".

That has now been backed by the parliament's committee on economic and monetary affairs "and is expected to be voted through", Times correspondent Rebecca Clancy reveals.

READ: Liberty approves F1 acquisition plan

Clancy said: "The Commission is under no obligation to launch an investigation, but a successful vote would increase the pressure on it to do so."

Clancy said one possible outcome for F1 is a fine of $168-million.

British politician Dodds adds: "We must ensure that we don't allow a sport loved by 500-million fans to become increasingly less competitive."


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Read more on:    european commission  |  london  |  fines  |  motorsport  |  f1

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