F1 sale faces difficulties due to FIA conflict of interest

F1's sale to US tycoon John Malone's Liberty Media still needs to be approved by the European Commission.

Although seemingly simple, F1 business journalist Christian Sylt has warned of a potential "conflict of interest" due to the FIA's need to also approve the deal, despite the fact it owns a 1 per cent stake in the sport's commercial rights.

"In short, the answer is that the FIA should not have the share under the current circumstances as it gives it a conflict of interest," a source said. "I can't see the FIA giving up a $100m asset though!"

Elsewhere, CVC's the sale of F1 is being widely welcomed.

"We all know that something had to be done to bring the sport back to a higher level," German motor racing official Hans-Joachim Stuck told SID news agency. "Whatever the new investor does could not actually be much worse."

Mercedes chairman Dieter Zetsche also welcomed Liberty to F1, saying the deal contains "more opportunity than risk".

Despite fears that having 21st Century Fox executive Chase Carey as the new chairman, will 'Americanise' F1, Carey has dismissed the claims.

"I want to point out that the established markets, especially Europe, are the home and foundation of Formula One," Carey told Bild newspaper. "To build the sport in Europe on the existing foundation must be a priority. In the longer team, America and Asia are opportunities, but it will not happen overnight."