LONDON (Reuters) - Force India and Sauber have withdrawn a complaint to the European Commission about alleged anti-competitive practices in Formula One, the teams said in a joint statement on Thursday.

 

The two privately-owned teams had made their complaint in 2015, before the sport's current U.S.-based owners Liberty Media took over and replaced former commercial supremo Bernie Ecclestone last year.

 

The complaint had focused on how the sport was run and revenues distributed, with Force India and Sauber arguing that Formula One was in breach of articles prohibiting cartels and the abuse of dominant market positions.

 

The two teams said they had been reassured by Formula One's approach under chairman Chase Carey and his new management team, who had "brought a new culture of transparency to the sport".

 

(Reporting by Alan Baldwin; editing by Alexander Smith)