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OCTOBER 31, 2001

EU confirms F1 clearance deal

AS we reported exclusively, the European Commission has officially dropped its anti-trust investigation into Formula 1 racing.

"The parties agreed to make changes which limit the FIA to a regulatory role, so as to prevent any conflict of interests, and remove certain commercial restrictions put on circuit owners and TV broadcasters," the commission said in a statement.

The Commission said that it will continue to watch the sport to make sure the changes introduced actually work.