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Liberty completes F1 takeover; Bernie Ecclestone out as F1 CEO

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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.

INDYCAR announces several rules and protocol changes for 2018 season

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The 2018 Verizon IndyCar Series opener is still more than six weeks away (March 11, St. Petersburg, Florida).

But several rules and protocol changes that will impact much of the 17-race season were announced today by INDYCAR officials.

First is related to Indianapolis 500 qualifying on May 19-20, one week prior to the 102nd running of the Greatest Spectacle in Racing:

* Driver and entrant points will be awarded to the top nine qualifiers for the race. The pole winner earns nine points and the second-fastest qualifier eight points, with awarded points decreasing by one point for each position down to one point earned by the ninth-fastest qualifier.

* Race points for the Indianapolis 500 and the 2018 season-ending Grand Prix of Sonoma on Sept. 16, will still pay double the normal points for driver and entrant.

There are several other changes on tap for the season, as well.

Here’s a quick rundown of those changes (information courtesy of INDYCAR):

  • The qualifying order for all oval track events except the Indianapolis 500 will be determined by entrant points entering the event. The qualifying order will run in reverse order of entrant points, with the highest in entrant points qualifying last. A car without entrant points will be placed at the front of the qualifying line. If more than one car has no entrant points entering an event, a blind draw among those cars will determine their qualifying order at the front of the line. The qualifying order for the Indianapolis 500 will still be determined by a blind draw.
  • Times have been set for the series-wide open test at ISM Raceway (formerly Phoenix Raceway), scheduled for Feb. 9-10. The track will be open to all cars from 3-6 p.m. and 8-11 p.m. ET both days. INDYCAR has also added four hours of track time on Feb. 8 (3-7 p.m. ET) for rookie drivers to complete their oval test assessments.
  • The series-wide open test at Portland International Raceway will be held Aug. 30, a day prior to the beginning of the Grand Prix of Portland race weekend. Indy car racing returns to the Pacific Northwest for the first time in 11 years in 2018.
  • A schedule change for the month of May will see the INDYCAR garages closed on May 13 – the day after the INDYCAR Grand Prix on the Indianapolis Motor Speedway road course – to allow teams time off for Mother’s Day. The track will not be open to the public on this day. The garages will be open on May 14, but there will be no on-track activity.
  • Practice for the 2018 Indianapolis 500 begins Tuesday, May 15 on the IMS oval, with the first two hours open for rookie orientation and veteran refreshers, then to all cars. Practice continues May 16-18, ahead of qualifications weekend May 19-20.
  • INDYCAR is granting teams that did not participate in fall manufacturer testing with the universal aero kit an additional half day of private testing. The testing is limited to one car per team and must take place in conjunction with the team’s first on-track test of 2018. Each team is permitted five hours of track time and two sets of Firestone tires.
  • Working with Firestone, INDYCAR has increased the tire allotment at five events. The race weekends at ISM Raceway (Phoenix), the Raceway at Belle Isle Park in Detroit, Texas Motor Speedway, the streets of Toronto and Iowa Speedway will see teams receive an additional set of tires. In a related change, drivers outside the top 10 in the point standings will no longer have an extra set of tires available to them for the opening practice session of a race weekend.
  • The minimum car weight for 2018 has been increased by 10 pounds – to 1,620 pounds for road and street courses and short ovals, 1,590 pounds for superspeedways (both do not include fuel, drink bottle and its contents, driver and driver equivalency weight) – to accommodate for new parts and additional on-car cameras related to the universal aero kit all competitors will run in 2018.