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Ecclestone still welcome

Many people watching the recent changes within Formula One will see the takeover of the sport by Liberty Media Group as a coup.

In a business sense Liberty Media Group have purchased Formula One from its owner CVC, its relatively straightforward, one company taking over another is something that happens on a daily basis.

But on the ground, the sports dictator Bernie Ecclestone has been deposed in front of millions of people.

Chase Carey has ended Ecclestone's day-to-day running of the sport and taken the 86-year-old's power.

Carey has become chairman and CEO, with Ross Brawn returning to the sport to oversee sporting and technical areas of the business.

Ecclestone has been offered an honorary president position.

Carey insists that he does still want Ecclestone's input, but for someone who has run Formula One pretty much single handedly for the best part of 40 years, is he merely just paying him lip service?

'hopefully we'll find a way that it continues to be rewarding for him. I want him to feel good about it. He will always be part of the Formula 1 family, he will always be welcome, and I want to try and make this something he can continue to feel part of. Carey told Sky Sports.

'Let me be clear, that respect was sincere, Bernie deserves enormous credit for the business that has been built over the last number of decades and realistically it just got sold for $8billion, so the ultimate proof in the value he created is there for all to see.

'But he has unique insights in the business, he understands it probably better than anyone else, his advice will be invaluable. He has been helpful to me to date and I look forward to his advice as we go forward.'








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The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Wednesday February 1 2017

Time: 11:00AM

 

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