 EU Closes Probe into Formula One Tuesday October 30th, 2001 The European Commission said on Tuesday it had dropped a long-running anti-trust investigation into Formula One motor racing following concessions by the sport's regulator. The EU's competition watchdog had objected to close links between motor sport's governing body, the Federation Internationale Automobile (FIA), and Bernie Ecclestone's company which markets broadcasting rights to Formula One races. A Commission statement said the case had been closed after "the parties agreed to make changes which limit the FIA to a regulatory role, so as to prevent any conflict of interests, and remove certain commercial restrictions put on circuit owners and TV broadcasters". However, it said Brussels would keep a watchful eye on the sector to make sure the changes work in practice. To prevent conflicts of interest, FIA has sold all its rights in the FIA Formula One World Championship and will allow the creation of potential competitors to Formula One, the statement said.
Published at 11:48:30 GMT
| ||||||
(03-16-2005): 
