Bernie Ecclestone no longer at the helm of F1

    Ecclestone is replaced by Chase Carey, vice chairman of 21st Century Fox media conglomerate, following a long run as head of F1.

    Published On Jan 24, 2017 11:51:00 AM

    2,248 Views

    Bernie Ecclestone no longer at the helm of F1

    Bernie Ecclestone is no longer the boss of Formula 1 following the completion of a takeover of the sport.

    He had earlier told German magazine Auto, Motor und Sport, “I am simply gone. It's official. I am no longer the leader of the company.”

    The 86-year-old has been F1’s chief executive for 39 years. His departure comes close to four months after F1’s acquisition by Liberty Media for $8.4 billion. Reports suggest that he was forced from the helm by the American company.

    Ecclestone has now assumed the role of chairman emeritus where he will act as an adviser to the board. The leading role has been filled by Chase Carey, who is vice chairman of the 21st Century Fox media conglomerate.

    “My new position is one of those American terms,” Ecclestone continued. “It's something like an honorary president. I have this title now, even though I don't know what it means.”

    It is not yet known if Ecclestone, who entered two Grand Prix races himself back in 1958, has sold his final five percent share of the sport. He’s estimated to be worth nearly £2.5bn.

    Ecclestone also told Auto, Motor und Sport that he doesn't expect to keep his seat on the World Motor Sport Council.

    “I doubt it,” he told the magazine. “First of all, I have to talk to [FIA president] Jean Todt about this.”

    The new owner of F1, Liberty Media, plans to make drastic changes to the sport in order to broaden its appeal. It intends to sell shares to F1 teams, expand into new media formats and even adjust the structure of race weekends to attract new viewers.

    Copyright (c) Autocar UK. All rights reserved.

    Comments
    ×
    img

    No comments yet. Be the first to comment.

    Ask Autocar Anything about Car and Bike Buying and Maintenance Advices
    Need an expert opinion on your car and bike related queries?
    Ask Now
    Search By Car Price
    Poll of the month

    Which was your favourite Car, SUV at Auto Expo 2023

    Maruti Suzuki Jimny

     

    24.68%

    Maruti Suzuki Fronx

     

    14.45%

    Maruti Suzuki eVX concept

     

    2.56%

    Tata Harrier EV

     

    10.08%

    Tata Sierra

     

    23.44%

    Hyundai Ioniq 5

     

    4.23%

    Hyundai Ioniq 6

     

    3.58%

    Kia EV9 concept

     

    2.89%

    MG4

     

    2.08%

    Toyota Land Cruiser 300

     

    12.02%

    Total Votes : 4186
    Sign up for our newsletter

    Get all the latest updates from the automobile universe