The grievance was filed with the EU back in 2015, prior to the takeover of Formula 1 by its current owners, who have subsequently engaged all the F1 teams in detailed discussions concerning the running of the sport.
“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,” read a joint statement from Force India and Sauber.
“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,” the statement continued.
“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 compliant 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.”
In wanting to support this transformational process in Formula 1, Force India and Sauber have thus resolved to withdraw their EU complaint with immediate effect.