Ecclestone out, Carey in
Bernie Ecclestone's long reign as Formula One's ringmaster came to an end Monday as Liberty Media completed its multi-billion-dollar takeover of motorsport's most prestigious brand.
Colorado-based Liberty confirmed in a statement that American Chase Carey had been appointed chairman and chief executive of F1, with Ecclestone moving into an advisory role as "chairman emeritus".
Ecclestone, 86, had already signalled the end of his near 40-year reign as head of Formula One in comments to German magazine Auto Motor und Sport earlier Monday.
"I was dismissed today," Ecclestone told the magazine. "I no longer run the company. My position has been taken by Chase Carey," he said.
He said his new chairman emeritus role was "a kind of honorary president" position, but added: "I have this title without knowing what it means."
Carey, a vice-chairman of the 21st Century Fox media conglomerate, said he was looking forward to running a sport which had "huge potential with multiple untapped opportunities."
"I have enjoyed hearing from the fans, teams, FIA, promoters and sponsors on their ideas and hopes for the sport," Carey said.
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