Force India and Alfa Romeo Sauber withdraw complaint to the European Commission

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The Formula 1 logo

Force India and Alfa Romeo Sauber have withdrawn their complaint to the European Commission about anti-competitive practices in Formula 1.

The two teams made the complaint in September 2015 as they were unhappy with how prize money is distributed, believing it to be skewed in favour of the sport's most-established teams.

However, a joint statement released on Thursday read: "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."

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