Bernie Ecclestone is leaving Formula 1. He confirmed the news and explained that Chase Carey replaced him as CEO of the Formula 1 Group. Liberty Media will probably announce the change on Tuesday as well as the appointments of Ross Brawn and Sean Bratches.
“I was deposed today. I am simply gone. It’s official. I am no longer the leader of the company. My position has been taken by Chase Carey”, 86-year-old Ecclestone told Auto Motor und Sport.
He added that he has a new position – “one of those American terms. It’s something like an honorary president. I have this title now, even though I don’t know what it means.”
Bernie Ecclestone: “I am simply gone”
Ecclestone also said that his days in the office will be quieter: “Maybe I will attend a Grand Prix sometime in the future. I still have many friends in Formula 1, and I still have enough money to afford to attend a race.”
Ecclestone ruled Formula 1 for more than four decades, while making a fortune by selling and controlling the sport’s commercial rights.
Liberty Media bought F1 last September and expects to complete the takeover by the end of January after clearing the last two regulatory hurdles.
— Phil Duncan (@PhilDuncanF1) 23 January 2017