Sauber and Force India drop EU complaint

Formula One teams Sauber and Force India have dropped their complaint to the European Union Competitions Commission which included accusations of financial bias towards the larger teams in F1, as they believe the new owners of the sport are doing their best to combat the issue.

The previous owners of the sport, CVC Capital Partners, stood accused in the complaint of giving the larger teams in the sport, Ferrari, Mercedes, Red Bull, McLaren, and Williams preferential financial treatment, with Sauber and Force India citing this practice as 'unfair and unlawful'.

However, Liberty Media have started to address the problem and are aiming to introduce a more even distribution of finances among the constructor teams. Sauber and Force India have subsequently withdrawn their complaint as they are happy with the progress.

In a joint statement, the two teams revealed the reasons for the withdrawal.

"We decided to withdraw the complaint we lodged with the European Commission in 2015 on the subject of anti-competitive practices in the sport of Formula 1," the statement reads.

"We have been greatly encouraged by the dialogue that has been introduced following the appointment of Chase Carey as executive chairman and CEO of the Formula 1 commercial rights holder and his new management team.

"Their approach has brought a new culture of transparency to the sport and illustrates willingness to debate fundamental issues such as the distribution of the prize fund monies, cost control and engine regulations.

"We are encouraged and reassured by the even-handed and fair negotiating approach taken by the new management of Formula 1 to all the teams and their issues.

"While the concerns leading to the complaint were fully justified, we believe this new approach provides the necessary degree of assurance that our concerns will be looked at objectively, and we prefer to resolve the issues facing the sport through dialogue rather than a legal dispute.

"We want to support this transformational process in Formula 1 and thus have resolved to withdraw our complaint with immediate effect."