Sauber and Force India have dropped their complaint made to the European Union over anti-competition practices conducted by former Formula 1 boss Bernie Ecclestone.
Fighting for a greater say in the rule and decision-making process within the sport, the two teams made the complaint citing the unequal distribution of revenues and the power structure which sees only certain teams part of the influential Strategy Group.
However, buoyed by the stance taken by Liberty Media in their first year as the commercial rights holder, their call for an investigation has now been rescinded they confirmed on Thursday.
"We have been greatly encouraged by the dialogue that has been introduced following the appointment of Chase Carey as Executive Chairman and CEO and his new management team," a statement issued read.
"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 F1 to all the teams and their issues."
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With an important year ahead politically in F1, as the new leadership and the established powers try to negotiate a future direction which both can accept, Force India and Sauber hope their decision takes away a lingering cloud.
"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," the statement continued.
"We want to support this transformational process in F1 and thus have resolved to withdraw our complaint with immediate effect."
