Report: F1 boss Bernie Ecclestone ready to step down F1’S NEW OWNERS READY TO MAKE THEIR MARK ON THE SERIES
Formula 1 boss Bernie Ecclestone might be about to step down. London’s Sky News is reporting that an announcement could come “within days” as new owners Liberty Media look to make their mark on the series.
The FIA and Liberty Media shareholders approved the sale of F1 to Liberty Media this week. As part of the sale that was confirmed on Wednesday, it was originally believed that Liberty Media wanted to keep Ecclestone on as the chief executive of Formula 1, allowing the new owners to use the 86 year-old’s intense knowledge of the sport.
According to reports, the short-term plan appears to have changed with Ecclestone receiving an offer to take a more hands-off role as a “life president,” meaning he would end his reign as series boss.
The move to remove Ecclestone is just one part of the Liberty Media Group’s plan to re-energize Formula 1. Among other things, the new owners want to allow teams to purchase shares in the sport, to increase the number of Grands Prix in a season — currently 21 — and to turn each Grand Prix into a Super Bowl-style event to attract new sponsors.
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