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.

Starting lineup grid for IMSA Petit Le Mans: Tom Blomqvist puts MSR on pole position

Petit Le Mans lineup
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IMSA WeatherTech SportsCar championship contender Tom Blomqvist put the Meyer Shank Racing Acura at the front of the starting lineup for the Motul Petit Le Mans at Michelin Road Atlanta.

Blomqvist turned a 1-minute, 8.55-second lap on the 2.54-mile circuit Friday to capture his third pole position for MSR this season. Earl Bamber qualified second in the No. 02 Cadillac for Chip Ganassi Racing.

Ricky Taylor was third in the No. 10 Acura of Wayne Taylor Racing, which enters Saturday’s season finale with a 19-point lead over the No. 60 of Blomqvist and Oliver Jarvis (who will be joined by Helio Castroneves) for the 10-hour race.

PETIT LE MANS STARTING GRID: Click here for the starting lineup l Lineup by car number

PETIT LE MANS: Info on how to watch

With the pole, MSR sliced the deficit to 14 points behind WTR, which will field the trio of Taylor, Filipe Albuquerque and Brendon Hartley in Saturday’s race.

“We really needed to put the car in this kind of position,” Blomqvist said. “It makes our life a little less stressful tomorrow. It would have given the No. 10 a bit more breathing space. It’s going to be a proper dogfight tomorrow. The guys gave me such a great car. It’s been fantastic this week so far, and it really came alive. I’m hugely thankful to the boys and girls at MSR for giving me the wagon today to execute my job.

“That was a big effort from me. I knew how important it was. It’s just awesome for the guys to give them some sort of reward as well. It’s always nice to be quick. If you do the pole, you know you’ve got a quick car.”

Though WTR has a series-leading four victories with the No. 10, MSR won the Rolex 24 at Daytona and has five runner-up finishes along with its three poles.

The strong performances of the ARX-05s ensure that an Acura will win the final championship in IMSA’s premier Daytona Prototype international (DPi) division, which is being rebranded as Grand Touring Prototype in the move to LMDh cars next season.

Taylor qualified third despite sliding into the Turn 5 gravel during the closing minutes of qualifying while pushing to gain points.

“Qualifying was important for points,” Taylor said. “Going into it, if we outqualified the No. 60 Meyer Shank Acura, they had a lot to lose in terms of championship points. So, we were trying to increase the gap over 20 points which would’ve made a big difference for tomorrow. We would have loved to get the pole and qualify ahead of the No. 60, but in the scheme of the points, it didn’t change a whole lot. I’m feeling good since it’s such a long race, and the No. 10 Konica Minolta Acura team does such a good job strategizing and putting us in a good position.

“I’m very confident in our lineup and our team compared to them over the course of 10 hours. I’d put my two teammates up against those guys any day. I think we are all feeling optimistic and strong for tomorrow.”

In other divisions, PR1 Mathiasen Motorsports (LMP2), Riley Motorsports (LMP3), VasserSullivan (GTD Pro) and Paul Miller Racing (GTD) captured pole positions.

The broadcast of the 10-hour race will begin Saturday at 12:10 p.m. ET on NBC, moving at 3 p.m. to USA Network.


QUALIFYING

Results

Results by class

Fastest lap by driver

Fastest lap by driver after qualifying

Fastest lap by driver and class after qualifying

Fastest lap sequence in qualifying

Best sector times in qualifying

Time cards in qualifying

PRACTICE RESULTS: Session I l Session II l Session III