Ecclestone to stay on as F1 boss
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.