EU: Parliament backs anti-competition probe of Formula 1

Formula One is facing pressure from the European Parliament over alleged anti-competitive practices, according to a report.

The Times quotes an amendment to the European Parliament’s competition report added by Anneliese Dodds, Labour MP for south east England, that “calls for an immediate investigation into competition concerns arising from the Formula Onemotorsport industry.”

“Formula One Group could be fined up to 10 per cent of its annual turnover of about £1.35 billion”

Dodds’ concerns include F1’s long-standing issues with sharing of prize money, where smaller teams, such as Manor Racing, which went into administration in January, automatically receive less of a share than Mercedes, Red Bull, Ferrari and the sport’s established teams.

Full Content: Motor Sport

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.

RECOMMENDED FOR YOU
 


More Articles