Liberty Media completes F1 acquisition, replaces Bernie Ecclestone with Chase Carey

While Liberty Media began its acquisition of the F1, Bernie Ecclestone had indicated that the American group wanted to keep the Briton for the next three years, without however having confirmed the exact role of the big financier of the discipline.

It is finally the end of an era in F1 which was recorded this Monday evening by the press release from Liberty Media. The firm has confirmed that it has completed the F1 takeover process, and has decided to place Chase Carey, already inducted as president, as managing director, replacing Bernie Ecclestone.

The latter was entrusted with the position of honorary president and will be a “source of advice” for F1 leaders.

“We are delighted to have completed the acquisition of F1 and to have Chase take over as Managing Director, comments Greg Maffei, President and CEO of Liberty Media Corporation.

There is a huge opportunity to grow the sport and we are confident that Chase, with his abilities and experience, is the right person for it. I would like to thank Bernie Ecclestone, who becomes Honorary Chairman, for his immense success in building this sport to a global reach. »

“I am proud of the business I have built over the last forty years and everything I have achieved with Formula 1, and I would like to thank all the promoters, teams, sponsors and companies television companies with whom I worked, underlines for his part Bernie Ecclestone.

I am very pleased that the company is being acquired by Liberty, who intend to invest in the future of F1. I am confident that Chase will execute his role in a way that will benefit the sport. »

The new strong man of F1 will take charge of the destiny of the premier category of motorsport, at a time when a highly anticipated change in technical regulations occurs.

“I am excited to take on the role of CEO, comments Chase Carey. F1 has enormous potential with multiple untapped opportunities, and I have thoroughly enjoyed listening to fans, teams, the FIA, promoters and sponsors about their ideas and hopes for the sport.

We will work with all of these partners to improve the racing experience and add a new dimension to the sport and we look forward to sharing these additional plans.

I would like to thank Bernie for his leadership over the decades. The sport is what it is today because of him and the talented team he led, and he will always be part of the F1 family.

His role as Honorary Chairman is worthy of his tremendous contribution to the sport and I am grateful for his insight and continued guidance as we build F1 for long-term success. »