Ec­cle­stone to stay on as F1 boss

Chronicle (Zimbabwe) - - Sport Starts Here -

FOR­MULA 1 boss Bernie Ec­cle­stone says he has been asked to stay on for three years once a takeover of the sport is com­pleted by Lib­erty Me­dia.

The US-based com­pany is in ad­vanced talks to take con­trol of For­mula 1 in a deal re­ported to be worth $8.5bn (£6.5bn).

Talks with CVC Part­ners, which owns a 35% stake in F1, are at an ad­vanced stage, the BBC has learned.

F1 com­mer­cial supremo Ec­cle­stone (85), has run the sport for 40 years.

“They want me to be here for three years,” he told Reuters news agency yes­ter­day.

Ec­cle­stone said he will now miss the Sin­ga­pore Grand Prix on Septem­ber 18 as he needs to be in Lon­don for ne­go­ti­a­tions.

“Be­cause all this is go­ing through, they (CVC) want me to be there to help them with all sorts of things. I can’t af­ford to be away for five to six days,” Ec­cle­stone added.

A For­mula 1 board meet­ing is sched­uled for Septem­ber 13, by which time the deal could be fi­nalised and a new chair­man in­tro­duced.

Is this the be­gin­ning of the end for re­mark­able Ec­cle­stone?

So, Bernie Ec­cle­stone says the prospec­tive new own­ers of For­mula 1 want him to stay in­volved for three more years. But what does this mean?

It’s a clas­sic Ec­cle­stone quote - it says some­thing, but only raises fur­ther ques­tions. Which he doesn’t an­swer.

Will he ac­cept? What role will he have? How will things op­er­ate in the fu­ture? Per­haps in this case that’s be­cause he can’t. At least not yet.

Ec­cle­stone said he would be happy to work with the ex­pected new chair­man, US busi­ness­man Chase Carey. But he has op­er­ated as pretty much a one-man band for 40-odd years.

And what if he does not like what Lib­erty pro­pose? After all, he told the Times only on Tues­day that he would “say adios” if the new own­ers stuck their noses in and he did not like it.

Much has yet to be de­cided in this saga be­fore the fu­ture of F1 be­comes clear.— BBC.

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