© Getty Images

Liberty completes F1 takeover; Bernie Ecclestone out as F1 CEO

1 Comment

Bernie Ecclestone’s 40-year reign at the helm of Formula 1 has come to an end following the CEO’s resignation on Monday, the major bit of news on a day when Liberty Media has formally completed its acquisition of Formula 1.

Ecclestone, 86, played an instrumental role in building F1 into the global success it is today, forming the Formula One Constructors’ Association in 1974 and becoming its CEO.

Ecclestone has controlled the commercials rights to the series ever since, but his position came into question last fall when F1 was sold to American company Liberty Media. Liberty installed Chase Carey as F1’s new chairman, with Ecclestone staying on as CEO.

However, with Liberty’s takeover of F1 set to be completed by the end of the month, Ecclestone’s tenure as the sport’s ringmaster is set to end following his resignation as CEO. Carey is now formally confirmed as new Chairman and CEO of the sport.

“I was deposed today,” Ecclestone told Auto Motor und Sport. “This is official. I do not run the company anymore. My position has been taken over by Chase Carey.

“My new position is now such an American expression. A kind of honorary president. I’ll get this title without knowing what it means.

“My days in office are now somewhat calmer. Maybe I’ll come to a grand prix. I still have a lot of friends in the Formula 1. And I still have enough money to be able to afford a visit to a race.”

AMUS’ report was followed by an official statement from Liberty later Monday afternoon, confirming Ecclestone no longer served as F1’s CEO, and confirming Ecclestone as Chairman Emeritus of the sport.

“I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula 1, and would like to thank all of the promoters, teams, sponsors and television companies that I have worked with,” Ecclestone said in a release. “I’m very pleased that the business has been acquired by Liberty and that it intends to invest in the future of F1. I am sure that Chase will execute his role in a way that will benefit the sport.”

Carey said, “I am excited to be taking on the additional role of CEO. F1 has 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. We will work with all of these partners to enhance the racing experience and add new dimensions to the sport and we look forward to sharing these plans overtime.”

“I would like to recognize and thank Bernie for his leadership over the decades. The sport is what it is today because of him and the talented team of executives he has led, and he will always be part of the F1 family. Bernie’s role as Chairman Emeritus befits his tremendous contribution to the sport and I am grateful for his continued insight and guidance as we build F1 for long-term success and the enjoyment of all those involved.”

Greg Maffei, President and CEO of Liberty Media Corporation, added: “We are delighted to have completed the acquisition of F1 and that Chase will lead this business as CEO. There is an enormous opportunity to grow the sport, and we have every confidence that Chase, with his abilities and experience, is the right person to achieve this. I’d like to thank Bernie Ecclestone, who becomes Chairman Emeritus, for his tremendous success in building this remarkable global sport.”

Liberty confirmed within the release that the Liberty Media Group name will become the Formula One Group. Full formal details are linked here.

While not announced today, Liberty is reportedly set to bring in ex-ESPN marketing chief Sean Bratches in a commercial role, and ex-Ferrari and Benetton technical chief Ross Brawn has been linked with a sporting role to define the future roadmap for F1.

Liberty’s takeover is set to result in a number of changes for F1, with the United States being identified as a key market for the series to grow in.

Recently-appointed McLaren executive director Zak Brown said earlier this month that he believed Liberty would focus on putting fans first in a bid to boost its audience.

While Liberty’s exact plans for F1 moving forward remain unclear, the departure of Ecclestone as its ringmaster certainly signals the end of an era for the series.

Vettel in no rush to sign new Ferrari F1 contract

Getty Images
Leave a comment

Sebastian Vettel is in no rush to sign a new Formula 1 contract with Ferrari despite his current deal expiring at the end of the season.

Vettel joined Ferrari in 2015 on a three-year deal, and currently leads the F1 drivers’ championship for the Italian marque ahead of Mercedes’ Lewis Hamilton.

Vettel’s future has been subject to much speculation as part of the annual ‘silly season’ driver rumor mill, but the four-time world champion has shown few signs of wanting to leave Ferrari.

In order to focus on his bid for a fifth title, Vettel is not looking to sign a new contract with Ferrari any time soon, believing there to be no need for an immediate decision.

“We have other things to do. In the summer there’s a bit more time, there’s a couple of weeks rest where there’s no race,” Vettel said in Thursday’s FIA press conference ahead of the Hungarian Grand Prix.

“But for now, focus is extremely high on working on the car. A piece of paper can be signed fairly quickly, so that’s not a problem.

“I’m not in a rush, I don’t think the team is in a rush as far as I understand. I think they would tell me otherwise.

“There’s no problem. Nothing’s wrong.”

Vettel is currently paired at Ferrari with Kimi Raikkonen, whose contract is also up at the end of the year.

‘Dinner with Racers’ rides again for third season

Photo courtesy Dinner with Racers
Leave a comment

Spencer Pumpelly killing a guy… allegedly. Johnny O’Connell attempting to run over Dario Franchitti… again, allegedly. Copious mentions of Bill Riley. Chicken sandwiches.

All these inside jokes, along with awesome stories and food selections, are staples of the “Dinner with Racers” podcast series, which is presented by Continental Tire, and will roll on once again this fall for a third season.

The key addition to this year from co-creators Sean Heckman, PR veteran and partner in TMB Creative, Inc. (The Media Barons) and Ryan Eversley, Acura factory driver for RealTime Racing in the Pirelli World Challenge, is the launch of an official guest submission contest (fans can submit their guest recommendations here), as well as other fan contests to be revealed as they get closer to hitting the road.

Quotes from both Eversley and Heckman in the official release go true to form if you know both individuals, their styles and sense of humor, and if you’ve listened to any of the podcasts from seasons one and two.

“I can’t believe we’re doing this again,” stated co-host Eversley. “It’s honestly a lot of fun to do this, and in many ways very refreshing. The enthusiasm we find in every guest we meet, no matter how accomplished, is incredible, and something that reminds us both how great it is to work in this sport. The only thing more satisfying is the tremendous fan response we’ve had over the years. We honestly had no clue how many people would not only listen, but respond so positively, and for that we couldn’t be more grateful. This year we’re trying to do a little more to include our fan-base, we hope they enjoy it.”

“I agree, it’s a lot of fun,” continued Heckman. “For the first week.”

The cross-country trip will occur this fall and episodes are generally released around the holidays, either on the front side or back side of Thanksgiving but before Christmas.

Ferrucci steps up to Formula 2 with Trident for rest of season

GP3 Series
Leave a comment

American racer Santino Ferrucci will make the step up to FIA Formula 2 for the remainder of the 2017 season, linking up with Trident.

Ferrucci, 19, made his GP3 debut in 2016 and has raced in the series ever since, balancing development duties with the Haas Formula 1 team.

The native of Woodbury, Connecticut will make his F2 debut this weekend in Hungary, securing a seat with Trident for the rest of the season.

“We are really proud to announce the agreement reached between Team Trident and the American racer Santino Ferrucci for the final five rounds of the FIA Formula 2 season,” Trident team manager Giacomo Ricci.

“The 19-year-old already had the chance to test one of our GP3 Series cars in last November’s collective postseason test at Abu Dhabi.

“Back then, he impressed the team’s staff, bringing home great results and keeping his name among the top-5 at all times.

“He is now set to make his Formula 2 debut at Budapest, on the same track where he led the way in GP3 Series testing.

“I am sure that Santino has all the skills needed to adapt to a Formula 2 car very quickly. Also, thanks to his Formula 1 experience, he will not have problems in managing more power and carbon fiber brakes.”

Pirelli confirms Brazil, Abu Dhabi tire selections to finish 2017

Getty Images
Leave a comment

Pirelli has confirmed the Brazilian and Abu Dhabi Grands Prix tire selections for the final two races of the season, which brings to a conclusion all the selected sets for the rest of the way.

Pirelli will have the supersoft, soft and medium compounds on offer at Sao Paulo in Brazil with the ultrasoft back for Abu Dhabi with the supersoft and soft compounds.

The Abu Dhabi selections will match those at Austin and Mexico City for that back-to-back in October.

Here are the remaining tire selections for after the summer break. At Hungary this weekend, teams can run the supersoft, soft and medium.

  • August 27: Belgium, Ultrasoft, Supersoft, Soft
  • Sept. 3: Italy, Supersoft, Soft, Medium
  • Sept. 17: Singapore, Ultrasoft, Supersoft, Soft 
  • Oct. 1: Malaysia, Supersoft, Soft, Medium
  • Oct. 8: Japan, Supersoft, Soft, Medium
  • Oct. 22: USA, Ultrasoft, Supersoft, Soft 
  • Oct. 29: Mexico, Ultrasoft, Supersoft, Soft
  • Nov. 12: Brazil, Supersoft, Soft, Medium
  • Nov. 26: Abu Dhabi, Ultrasoft, Supersoft, Soft