Liberty Media completes F1 takeover, signalling end of Ecclestone era

“I do not run the company anymore”, he told the publication, according to Google Translate.
Ecclestone says, “I’m very pleased that the business has been acquired by Liberty”.It is believed that, after Liberty Media offered the 86-year-old a less hands-on role for the future as “life president”, Ecclestone turned it down.Rumours have circulated over the last week as to how long Ecclestone would remain in power following the World Motor Sport Council’s vote agreeing the sale of F1 to Liberty Media.”My new position is one of those American terms”.

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Sean Bratches, a former ESPN executive, was revealed by Sky News last month to be the frontrunner for a top commercial job, while Ross Brawn, the former Ferrari team boss, is expected to take on a key role overseeing the sporting side of F1. “Bernie’s role as Chairman Emeritus befits his tremendous contribution to the sport and I am grateful for his continued insight and guidance as we build F1 for long-term success and the enjoyment of all those involved”.Formula One now lacks a marketing department and has derived much of its revenue from television rights and race hosting fees, with Ecclestone making the deals. Ecclestone himself intimated that he could depart within the next few weeks, although it now appears that Liberty have opted to make the move sooner rather than later.”F1 has huge potential with multiple untapped opportunities”, said Carey. “We will work with all of these partners to enhance the racing experience and add new dimensions to the sport”.”My days in the office will be somewhat quieter. And I still have enough money to be able to afford a visit to a race”.