Bernie Ecclestone, the supremo of Formula 1 for 40 years and a regular figure at the Monaco Grand Prix, claims he has been deposed by a major investor.
When Liberty bought an 18.5 percent stake in the sport last September, the expectation was that the 86-year-old Mr Ecclestone would stay on as Chief Executive for a further three years. However, Mr Ecclestone has been pushed upstairs and appointed as Chairman Emeritus of F1. Chase Carey, of 21st Century Fox, will take over as Chief Executive.
Mr Ecclestone said on Monday, January 23: “I was deposed today. This is official, I do not run the company any more.” Although a change at the top had been widely expected, its timing appears to have taken the sport by surprise. The new owners have spoken of “adding new dimensions to the sport”.