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UK Serious Fraud Office evaluating evidence against CVC and the FIA
The UK’s Serious Fraud Office (SFO) is believed to be about to open an investigation into an arrangement agreed between CVC (the then commercial rights-holders of Formula 1) and the sport’s governing body, the FIA. London based ITV News claims it has been shown a confidential copy of the so-called ‘Concorde Implementation Agreement’ between Formula One Group and the FIA. The terms of the agreement are said to run until 2020. Both the FIA and CVC (who sold their stake in F1 to Liberty for $8bn last year), have fervently denied any wrongdoing with the FIA going further to say that the $5m was 'properly accounted for' and that 'no individual received any payment out of...
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6y ago from MotorsportWeek.com
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