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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.

MRTI: Chris Griffis Test Sunday times and notebook

Thompson (90, Exclusive) and Hoogenboom (78, BN) in Pro Mazda. Photo: Indianapolis Motor Speedway, LLC Photography
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The two-day Chris Griffis Memorial Mazda Road to Indy Test concluded on Sunday at the Indianapolis Motor Speedway road course.

Combined times after the two days of running are below, with Nico Jamin (Indy Lights Presented by Cooper Tires) and Oliver Askew (Pro Mazda Championship Presented by Cooper Tires) remaining on top from Saturday to Sunday, and Darren Keane (Cooper Tires USF2000 Championship Powered by Mazda) supplanting Andres Gutierrez at the head of that field.

Previous notebooks are linked here (Friday, Saturday), with additional Sunday notes to follow.

COMBINED TIMES

INDY LIGHTS (Best Session)Full Results

Jamin. Photo: Indianapolis Motor Speedway, LLC Photography

1. 5-Nico Jamin, Belardi Auto Racing, 1:15.7173 (Session 2)
2. 98-Colton Herta, Andretti-Steinbrenner Racing, 1:15.7808 (Session 8)
3. 23-Victor Franzoni, Juncos Racing, 1:15.7953 (Session 8)
4. 3-Pato O’Ward, Team Pelfrey, 1:16.0900 (Session 5)
5. 4-Rinus Veekay, Belardi Auto Racing, 1:16.1419 (Session 5)
6. 31-Carlos Cunha, Juncos Racing, 1:16.1585 (Session 8)
7. 31-Nicolas Dapero, Juncos Racing, 1:16.2491 (Session 4)
8. 48-Ryan Norman, Andretti Autosport, 1:16.3285 (Session 4)
9. 27-Anthony Martin, Andretti Autosport, 1:16.5185 (Session 4)
10. 2-TJ Fischer, Team Pelfrey, 1:16.8124 (Session 5)
11. 21-Heamin Choi, Juncos Racing, 1:18.1931 (Session 5)

PRO MAZDA (Best Session); Full Results 

Askew. Photo: Indianapolis Motor Speedway, LLC Photography

1. 8-Oliver Askew, Cape Motorsports, 1:19.8142 (Session 5)
2. 79-David Malukas, BN Racing, 1:19.9394 (Session 5)
3. 90-Parker Thompson, Exclusive Autosport, 1:19.9815 (Session 5)
4. 1-Carlos Cunha, Juncos Racing, 1:20.0236 (Session 2)
5. 3-Robert Megennis, Juncos Racing, 1:20.1268 (Session 4)
6. 81-Kaylen Frederick, Team Pelfrey, 1:20.1928 (Session 5)
7. 18-Calvin Ming, Pabst Racing, 1:20.2141 (Session 5)
8. 2-Sting Ray Robb, Juncos Racing, 1:20.6289 (Session 5)
9. 91-Nikita Lastochkin, Exclusive Autosport, 1:20.7001 (Session 2)
10. 80-Kris Wright, Team Pelfrey, 1:20.9930 (Session 4)
11. 82-Aaron Telitz, Team Pelfrey, 1:21.2144 (Session 8)
12. 78-Leonard Hoogenboom, BN Racing, 1:21.3713 (Session 8)

USF2000 (Best Session); Full Results

Keane ended head of queue in USF2000. Photo: Indianapolis Motor Speedway, LLC Photography

1. 36-Darren Keane, Newman Wachs Racing, 1:25.1424 (Session 5)
2. 22-Andres Gutierrez, Pabst Racing, 1:25.5618 (Session 3)
3. 27-Callan O’Keefe, BN Racing, 1:25.6295 (Session 2)
4. 21-Hunter McElrea, Pabst Racing, 1:25.7021 (Session 5)
5. 31-Rasmus Lindh, Team BENIK, 1:25.7791 (Session 5)
6. 81-Jacob Loomis, Team Pelfrey, 1:25.8514 (Session 5)
7. 90-Parker Thompson, Exclusive Autosport, 1:25.8743 (Session 2)
8. 23-Lucas Kohl, Pabst Racing, 1:25.9792 (Session 6)
9. 37-David Osborne, Newman Wachs Racing, 1:25.9996 (Session 8)
10. 20-Aaron Telitz, RJB Motorsports, 1:26.0042 (Session 6)
11. 80-Michael D’Orlando, Team Pelfrey, 1:26.2295 (Session 8)
12. 37-Jake Craig, Newman Wachs Racing, 1:26.2452 (Session 4)
13. 25-Elliott Finlayson, BN Racing, 1:26.3668 (Session 8)
14. 32-Jaden Conwright, Team BENIK, 1:26.4557 (Session 2)
15. 38-Max Peichel, Newman Wachs Racing, 1:26.5058 (Session 2)
16. 33-Myles Rowe, John Cummiskey Racing, 1:26.6004 (Session 8)
17. 90-Justin Gordon, Exclusive Autosport, 1:26.6460 (Session 5)
18. 82-David Osborne, Team Pelfrey, 1:26.6824 (Session 2)
19. 34-Sabre Cook, John Cummiskey Racing, 1:26.9362 (Session 6)
20. 38-Oscar DeLuzuriaga, Newman Wachs Racing, 1:27.7455 (Session 8)
21. 92-Justin Gordon, Exclusive Autosport, 1:27.7750 (Session 3)
22. 24-Zoey Edenholm, BN Racing, 1:28.5449 (Session 8)
23. 93-Jayson Clunie, Exclusive Autosport, No Time

NOTES

Old USF2000 teammates Jamin and Telitz share a high-five. Photo: Indianapolis Motor Speedway, LLC Photography
  • Several drivers pulled double duty between series, namely Parker Thompson (Exclusive Autosport in Pro Mazda and USF2000), Carlos Cunha (Juncos Racing in Indy Lights and Pro Mazda) and Aaron Telitz (Team Pelfrey in Pro Mazda, RJB Motorsports in USF2000). Telitz (above) added a run in Pro Mazda in Team Pelfrey’s No. 82 car; the Wisconsinite has done a lot of the series’ testing for the new Pro Mazda Tatuus PM-18, and had hoped to run all three series. We’ll have more meanwhile on Thompson and Exclusive’s double in the days to come; the Michael Duncalfe-led team out of Saskatoon, Saskatchewan was one of three new Pro Mazda teams adding those cars to USF2000 efforts (Pabst Racing, BN Racing) this week.
  • There were a handful of drivers that changed cars or teams for Sunday’s second day of the test, primarily in USF2000. While Keane ran both days at Newman Wachs, the Brian Halahan-managed team ran David Osborne and Oscar DeLuzuriaga in the Nos. 37 and 38 cars, taking over from Jake Craig and Max Peichel. Osborne switched from Team Pelfrey, where he ran Saturday, and where Jacob Loomis ran Sunday. Justin Gordon ran a second Exclusive Autosport chassis, switching to the No. 90 on Sunday after running the No. 92 Saturday.
  • The PM-18 best lap set by Askew is more than three seconds faster than the series’ official track record (Pato O’Ward in 2016, at 1:22.8800, 105.941 mph). Askew’s best time of 1:19.8142 averages 110.010 mph around the 2.439-mile circuit. Neither the Indy Lights nor USF2000 cars eclipsed the existing lap records in those categories.
  • Drivers largely extolled the PM-18’s outright pace and potential with the horsepower upgrade, in what is a significant step forward for the series. “Following prototype testing of the new PM-18, I believed that we had a special race car and this weekend’s testing confirms that,” said Dan Andersen, Owner and CEO of Andersen Promotions. “Based on team and driver comments, this is a fantastic race car and I am very pleased with what Tatuus, Elite Engines and my team have assembled. It fits perfectly in between the USF-17 and the IL-15 in terms of lap times and, more importantly, it takes what a driver learns in the first step and introduces higher HP, higher grip and higher aero. This will be a great training car for years to come, and seeing our program now with three excellent and well-designed cars is very satisfying to me.”
  • Keane, one of the few veterans (relatively speaking) within USF2000 was plugged in this weekend as the only driver outside Pabst Racing to threaten the top of the timesheets. “It’s a good boost in confidence for me heading into next year. I am really happy with how everything is going with the team. They are a great group of guys and it’s just really good to see us improving and being where we want to be,” he said.
  • Rinus Veekay hailed the Indy Lights Dallara IL-15 Mazda this weekend in his first test there, although the talented Dutch teenager may well focus on Pro Mazda next season and shoot to win that championship, and continue his battle with Askew established in USF2000. “The car is very nice, quick,” noted VeeKay. “You can really feel the downforce and it was a pleasure to drive.”
Veekay. Photo: Indianapolis Motor Speedway, LLC Photography

The MRTI is done with official running for the year, but the $200,000 MRTI Scholarship Shootout remains in December at Wild Horse Pass Motorsports Park, the former Firebird Raceway, outside Phoenix. The winner of that will get a ticket into USF2000 for the 2018 season.

Full MRTI spring training will take place at Homestead-Miami Speedway in February 2018, with undoubtedly a bevy of driver and team announcements to come over the following months.