Only a matter of days after the purchase of Formula One by Liberty Media was agreed by both its shareholders and the FIA, it has been confirmed today that Bernie Ecclestone has been replaced as the Chief Executive of the sport.
Although he has expressed that he was willing to stay on for the next three years in a transition period to the new owners, the Briton who has been running the sport for the last 40 years has been effectively been replaced by Chase Carey, who will be both President and Chief Executive of what will become the Formula One Group.
Ecclestone will remain on the board though as ‘Honoury President’, his vast knowledge an asset to the new owners, although a definition of that role is somewhat cloudy.
Confirming the news to Auto Motor und Sport in Germany, Ecclestone confirmed: “I no longer run the company. My position was taken over by Chase Carey.
“My days in the Office are now quieter. Maybe I’m even for a Grand Prix. I still have many friends in formula 1. And I have enough money to afford the visit during a race.”