Jeremy Darroch [president of BSkyB] stepped in over the story after Martin Turner, executive producer of Sky Sports's new Formula One channel, had conveyed concerns from the Australian Grand Prix in Melbourne.
The story centred on a deal between F1 chief Bernie Ecclestone and two racing teams, according to the Financial Times. It was published as the broadcaster launched its new Formula One channel.
Mr Turner's message prompted Mr Darroch to order the article to be taken down and a review of the story was carried out by the head of Sky News John Ryley.
The article was then republished on Monday afternoon, replacing quotes leaked from confidential documents.