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E.U.: Former team chairman wants Formula 1 investigated for anticompetitive payments

 |  December 11, 2012

Adam Parr, former chairman for the Williams Formula One team, says that the European Commission should investigate Formula One agreements with the Ferrari and Red Bull teams over payments made to those teams, as well as a spot on the board to renew contracts through 2020, claiming those payments were anticompetitive. Sky News reported last March that the two teams would receive up to $45 million, a story that caused Parr to resign from his position. In a statement, Parr said he believes it is likely that “an unequal division of power and money to a subset of teams is unlawful.”

Full Content: Bloomberg

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