Bernie Ecclestone has confirmed that he has been replaced as the big boss of Formula 1, signalling his exit from the series.
The F1 door seems to have been closed on Ecclestone, after he revealed to Auto Motor und Sport that Liberty Media’s Chase Carey has taken over the role of F1 CEO.
It brings an end to 40 years in charge for Ecclestone, although the door hasn’t been locked altogether, as he’s been given the role of honorary president.
However, he doesn’t actually know what that means.
It’s certainly huge news for F1 and signals the start of major changes as Liberty finalises its takeover of the series.
Here’s what Ecclestone told AMUS:
“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.
“My new position is 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.”
“My days in the office will be getting quieter now. 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.”
It’s now being reported by Autosport that former F1 boss Ross Brawn is set to be appointed in a sporting role, with ex-ESPN chief Sean Bratches tipped to join in a commercial role.
Liberty hasn’t formally confirmed Ecclestone’s exit, although it’s expected to be officially announced on Tuesday.
UPDATE: Liberty Media has now announced its acquisition of F1 has now been completed, confirming Ecclestone’s departure as CEO at the same time.
Carey has been appointed F1 CEO alongside his role as chairman, with Ecclestone becoming ‘chairman emeritus’. He will be available as a source of advice in the future.