The FIA has announced that it is to open a tender process to find a new commercial rights holder for the World Rally Championship (WRC).

And F1’s governing body has vowed to “work with” current rights holders Red Bull and KW25, along with banking giant JP Morgan, in the search for a buyer.

FIA to support Red Bull in potential $550million WRC sale

Additional reporting by Mat Coch

Red Bull and KW25, a German investment company, have been exploring the sale of WRC Promoter GmbH for the last 12 months.

A report in June claimed that the current rights holders have held talks with interested parties, including private equity firm EQT, with other potential suitors in Europe, the United States and the Middle East.

PlanetF1.com understands that F1 commercial rights holder Liberty Media, which

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