Liberty Media Takeover Completed: Bernie Ecclestone Replaced
It’s the end of an era as Liberty Media’s £6billion takeover is completed, becoming the sport’s new rights owner and replacing Bernie Ecclestone.
The statement released by Liberty Media on Monday confirmed the news that the takeover was complete – then followed up by a statement being featured on the Formula 1 official app.
The statement which was publicised by Liberty Media held a statement from Bernie Ecclestone who said the following – “I’m proud of the business that I have built over the last 40 years and all that I have achieved with Formula 1. I would like to thank all of the promoters, teams, sponsors and television companies that I have worked with.“
Chase Carey who was seen in a number of races in the 2016 season, getting familiar with teams and drivers, now becomes F1’s new chairman with Bernie Ecclestone taking a step down for his new role as Chairman Emeritus.
As reported in this post here – Ross Brawn will return to the sport after a 3 year break, taking up the role as Motor Sport Managing Director.
Sean Bratches (an American TV sports executive) will take up his role as the Commercial Operations Managing Director as a part of the new look F1 management structure.
Many people are seeing the takeover in a positive light and with new people in place along with innovative ideas – the future is brighter than ever for Formula 1.
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It’s the end of an era! thank you bernie for what you have done in the sport
Author
Thank you for your comment – yes, he has done so much for the sport and for getting it to where it is! He will always be a part of Formula 1 🙂