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.
“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.
The team owners, drivers and engineers believed the 17-turn, 3.067-mile race course that winds and twists its way through a gated private community (about 45 minutes southeast of Palm Springs) had no relevance to any track on the 17-race schedule.
To the leaders of IndyCar, however, there was plenty of relevance to hosting its “Spring Training” at a sort of motorsports country club that caters to extremely wealthy residents who also are automotive enthusiasts.
“Both with our stakeholders and the media that covers IndyCar, we wanted them to know that we are going to do things differently,” Penske Entertainment CEO Mark Miles told NBC Sports from the private VIP viewing area that overlooks the long straights and twisting turns of the course. “This is going to be a year when we expect our growth to go to a whole new level.
“What better way to send that message than to be at a place we have never been that is exceptional?
“The quality of this place; the facilities are off the charts. The customer service, the welcoming feeling you get from the staff here. The track itself is fast. The drivers are having a great time on it.
“It really sent a message to our other promoters and our drivers and team owners that something is up. We want fans around the country and the sports industry to know that something is going on with IndyCar this year.”
The Thermal Club is a concept driven by Tim Rogers, who made his fortune by supplying gasoline to 7-Eleven stores in 36 states. He wanted to create a private community that mixed multimillion-dollar homes and luxury villas with a high-speed race course.
The two-day IndyCar “Spring Training” was the most ambitious motorsports project yet for The Thermal Club.
Rogers wants it to be the first step in a long-term goal for the community.
“Our endgame is we want to host an IndyCar Series race at The Thermal Club one day,” Rogers told NBC Sports as IndyCar hit the track again Friday morning. “This was a good trial to see how the facility can handle it and if the facility works for them.”
The two-day test was closed to the general public. It was open only to credentialed news media, members of the Thermal Club and a limited number of their guests.
With the spectacular backdrop of the Coachella Valley that is rimmed with snow-capped mountains, The Thermal Club could provide a great setting for an NBC telecast of an IndyCar Series race (and possibly line up a big sponsor for a return on its investment with a larger than normal audience during a ripe time such as the first weekend of February).
“Tim and everybody at The Thermal Club have done a phenomenal job of being hosts here for this test,” Miles said. “Everybody is very happy we are here, and I expect we will find a way to continue to be here. Whether that means a race and when is really a bridge we aren’t ready to cross yet.
“We really like opening the championship season each year in St. Petersburg, Florida. We’ll have to see. But it’s a great way to start the season in this way, and right now, we are happy to be here.”
On track, it was a successful two-day test session with 27 car/driver combinations that will compete in IndyCar in 2023. It’s the largest field for IndyCar since the 1990s. There were a few spins here and there but no major incidents across 2,560 laps.
Kyle Kirkwood led the final session Friday while getting acquainted with his new No. 27 team at Andretti Autosport. Kirkwood has replaced Alexander Rossi at Andretti, whom Kirkwood drove for in Indy Lights.
His time of 1 minute, 38.827 seconds (111.721 mph) around the 3.067-mile road course was the fastest of the fourth and final session. But the fastest speed over two days was defending Indy 500 winner Marcus Ericsson of Chip Ganassi Racing in the Friday morning session (1:38.4228, 112.182 mph in the No. 8 Honda).
Callum Ilott of Juncos Hollinger Racing was second in the final session at 1:38.8404 (111.707 mph) in the No. 77 Chevrolet. Rookie Marcus Armstrong of New Zealand was third at 1:38.8049 (111.707 mph) in the No. 11 Honda for Chip Ganassi Racing. Alex Palou of Chip Ganassi Racing was fourth at 1:38.8718 (111.672 mph) in the No. 10. Defending NTT IndyCar Series champion Will Power of Team Penske rounded out the top five at 1:38.9341 (111.602 mph) in the No. 12 Chevrolet.
Ericsson was the fastest in combined times followed by Rahal Letterman Lanigan Racing’s Christian Lundgaard at 1:38.5682 in the No. 45 Honda, Kirkwood, Ilott and Armstrong. Positions 3-5 speeds were from the final practice session on Friday.
Drivers didn’t know what to expect before hitting the track. After the two-day test was over, NBC Sports asked several drivers what they learned from The Thermal Club.
“I think it’s a first-class facility, no doubt,” two-time NTT IndyCar Series champion Josef Newgarden of Team Penske said. “I think the entire facility here at Thermal really rolled out the red carpet for us. They did a tremendous job.
“It was a fairly flawless test, I would say, for two days. I think the great thing about this was we had a two-day test, which was fantastic. You got to have this warmup; this preseason build. That was the biggest positive for me, is that we were here, we were running cars. It was a great facility to do it at.
“I think the track was a lot more fun than we anticipated. It was challenging, definitely technical. I don’t know how relevant it is. For us, it wasn’t really relevant to anywhere we’re going, but that’s OK.”
But even though the track has no sector particularly similar to any road or street course on the schedule, there still were benefits.
“In a lot of ways, it is relevant,” Newgarden said. “For us it was relevant for building the team up, trying to work in a competitive environment, be competitive together. That’s everything. So regardless of is the setup going to apply to a certain track or another, (it) doesn’t really matter.
“For us, it was applying the principles of how we’re going to work together. From that standpoint, it was very productive for everybody. Raceability-wise, it’s hard to say. It was chewing tires up. Big drop-off from run one to two. I think from a race standpoint, that would be quite positive. You’d have big tire deg here.
“You’d have to do more work on runoff areas if we wanted to race here, but it’s possible. I don’t think it would take much effort to do the things to run an actual race.”
Kirkwood found speed in his Andretti Autosport machine, but he used the test to create a smooth working relationship with his new crew.
“I wouldn’t say that we found something here that is going to translate to anywhere, right?” the 2021 Indy Lights champion said. “This is a very unique track, although it was a lot of fun to drive, and it kind of surprised me in the amount of grip that it actually produced.
“It was quite a bit faster than what we expected.”
Many of the NTT IndyCar Series teams will test later this month at Sebring, Florida, as they prepare for the Firestone Grand Prix of St. Petersburg to kick off the season March 5.
“It’s a very nice facility, a nice area, it’s pretty cool to have two days of testing here with a lot of high-profile people,” two-time NTT IndyCar Series champion Will Power of Team Penske told NBC Sports. “It’s a very technical, tough track.
“It’s pretty good.”
The Thermal Club received rave reviews, welcomed IndyCar and provided exposure to the movers and shakers of the business community that own the luxury villas and homes in this ultra-rich community.
Could it be a venue of the future for a series that sells lifestyle as much as on-track competition?
“This is a fantastic facility and the circuit is a fast circuit,” team owner Bobby Rahal told NBC Sports. “It’s pretty exciting to watch the cars run around here. I think it would be attractive to people.
“I’ll leave that up to Mark Miles and (IndyCar President) Jay Frye and everybody else whether we have a race here, but why not?