Move over, Bernie, it’s Mr Nice Guy

Finally F1’ s octogenarian overlord Bernie Ecclestone has snatched his dark cape around himself and disappeared in a swirl of acrid smoke, the faint hint of an evil cackle and the ring of a cash register on the wind.

But who is this John Malone fella, who has apparently been handed the reins ( well, one stirrup at least)? And what are his plans for the world’s premier form of sponsorship deals paired with free additional motor racing?

Turns out Malone’s Liberty Media is enormous; nearly as enormous as F1’ s parent company, Delta Topco.

According to a statement from Liberty Media, the company initially takes an 18.7 per cent stake in Formula 1, with the balance to be acquired next year. Liberty Media will reportedly pay NZ$ 5.5b for the series, although it must also swallow the US$ 3.6b debt the F1 series now carries. Ouch.

The entire deal also has to be approved by the FIA.

Controlled by spring chicken Malone ( he’s 75), Liberty Media dabbles in radio stations, cable TV channels and the QVC broadcast network and also owns the Atlanta Braves baseball franchise. Malone backed Charter Communications’ takeover of Time Warner Cable and owns Virgin Media in the UK.

Liberty Media has been expanding into Europe over the past couple of years, and also extending its sports coverage portfolio.

It would seem Formula 1 neatly takes care of two aims.

As to any specific plans Malone has for the sport, nothing has bubbled to the surface yet, although Ecclestone is expected to remain at the controls as chief executive for three years.

Perhaps an American owner will generate significant enough interest in the series Stateside to mean the Austin, Texas round of the championship no longer teeters on the brink of insolvency from one season to the next.

Initial reports suggest Malone could be a nice guy. So there’s a monumental change for a start.

Read Bob McMurray’s viewpoint, p35