Photo: Brembo
Grab your best flutes and your finest champagne and start celebrating like you’re on the top step of the podium. As it happens, Formula 1 supremo Bernie Ecclestone has been ousted from the sport by the company that acquired Formula 1 outright.
This news comes courtesy of none other than the Formula 1 Group and Liberty Media, the latter having appropriated 100% of the king motorsport. While on the subject of enterprise value, the business is valued at $8 billion. Formula 1 Group shares will soon trade under the ticker symbol FWON.
“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,” said Ecclestone, a guy who’s better known for doing more wrongs than goods in Formula 1.
Bernie, who’s now 86 years of age, will fill the honorary role of Chairman Emeritus. In other words, he doesn’t have any kind of word to say about the financial or the sporting side of Formula 1. Chase Carey has assumed the roles of chief executive officer and chairman of the king motorsport in his stead. Based on the big bushy mustache he’s rocking like a pro and his experience at the 21st Century Fox media conglomerate, Chase Carey will do just fine.
In hindsight, I’m not sorry to see Bernie go. Not only did Ecclestone compare women in motor racing to domestic appliances, but he once said that a certain Adolf Hitler was able to get things done in the ’30s and ‘40s. Bernie also managed to avoid avoid taxes in his country of origin. More disturbingly, he also said that the entire continent of North America is “a s**t hole” compared to Azerbaijan, a beautiful country whose people regrettably face violence and persecution for exercising their right to free speech.
On an ending note, Ross Brawn rejoined Formula 1 as managing director of the sporting side of the business. You know, that guy who helped various drivers and teams win eight constructors' championships and eight drivers' championships. Don’t know about you, but I'm thoroughly excited.
“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,” said Ecclestone, a guy who’s better known for doing more wrongs than goods in Formula 1.
Bernie, who’s now 86 years of age, will fill the honorary role of Chairman Emeritus. In other words, he doesn’t have any kind of word to say about the financial or the sporting side of Formula 1. Chase Carey has assumed the roles of chief executive officer and chairman of the king motorsport in his stead. Based on the big bushy mustache he’s rocking like a pro and his experience at the 21st Century Fox media conglomerate, Chase Carey will do just fine.
In hindsight, I’m not sorry to see Bernie go. Not only did Ecclestone compare women in motor racing to domestic appliances, but he once said that a certain Adolf Hitler was able to get things done in the ’30s and ‘40s. Bernie also managed to avoid avoid taxes in his country of origin. More disturbingly, he also said that the entire continent of North America is “a s**t hole” compared to Azerbaijan, a beautiful country whose people regrettably face violence and persecution for exercising their right to free speech.
On an ending note, Ross Brawn rejoined Formula 1 as managing director of the sporting side of the business. You know, that guy who helped various drivers and teams win eight constructors' championships and eight drivers' championships. Don’t know about you, but I'm thoroughly excited.
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