By Adam Tate, Associate Editor
Bernie Ecclestone is no longer the chief executive officer of Formula One. His four decade reign atop the sport has come to an end, confirmed by Liberty Media naming Chase Carey as his replacement. Ecclestone who saw the writing on the wall, stepped down graciously and released the following statement.
“I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula One, and would like to thank all of the promoters, teams, sponsors and television companies that I have worked with. I’m very pleased that the business has been acquired by Liberty and that it intends to invest in the future of F1. I am sure that Chase will execute his role in a way that will benefit the sport.”
Carey also released a statement.
“I am excited to be taking on the additional role of CEO. F1 has huge potential with multiple untapped opportunities. I have enjoyed hearing from the fans, teams, FIA, promoters and sponsors on their ideas and hopes for the sport. We will work with all of these partners to enhance the racing experience and add new dimensions to the sport and we look forward to sharing these plans overtime.”
“I would like to recognize and thank Bernie for his leadership over the decades. The sport is what it is today because of him and the talented team of executives he has led, and he will always be part of the F1 family. 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.”
The move comes after years of speculation on when Ecclestone would finally move on, and is a sure sign as ever of Liberty’s intent to shake up the sport they just purchased for $8 billion.