F.1 is no longer under the control of Bernie Ecclestone

The era of the Englishman Bernie Ecclestone as the head of Formula 1 came to an end after the decision of Liberty Media, the new owner of the category, to dispense with their services.

The news was announced by Ecclestone himself, who for four decades had command of the F.1 and achieved a fortune of more than 4.000 million euros with his businesses. “Today I was displaced. I am just outside. This is official. I no longer run the company, ”said the Englishman.

His position as CEO of the Maxima will go to Chase Carey, a top media executive who had already been confirmed as category president by Liberty Media.

The Briton, however, will maintain an honorary position in Formula 1. “My new position is a very American expression. A kind of honorary president. I assume this title without really knowing what it means, ”said the 86-year-old.

“My days at the office are going to be more relaxed now. Maybe he's still going to a Grand Prix. I still have a lot of friends in Formula 1. And I have enough money to pay me a visit to a race, ”he added.

Liberty Media, a media and entertainment company created 25 years ago by billionaire John Malone, acquired the Formula 1 brand for 4.400 billion dollars (about 3.930 million euros), to which is added the assumption of debts for a similar value .

Liberty owns 35,3 percent of the shares in the category, enough to control the company and make decisions. His arrival displaces CVC Capital Partners, which had commanded Formula 1 since 2005 and had appointed Ecclestone as its CEO.

The new owners have not yet released, at least publicly, the new concept they hope to introduce into the category. But according to the English media, the idea is to relieve not only Ecclestone but also the main executives of Formula One Management (FOM).

Carey is already confirmed as the new president of the category, while Sean Bratches, a former manager of the television station ESPN, would assume the commercialization of Formula 1. And in sports driving there is talk of negotiations with Ross Brawn, former boss of Mercedes and Ferrari.

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Automundo is the blog about news from the automotive industry, motorsport and the culture of the region. Director: Diego Durruty.

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