Liberty Media has announced they have completed the purchase of Formula 1 from CVC and settled on their management structure going forward.
Chase Carey will remain as chairman and now also becomes the chief executive officer of F1, with ex-ESPN man Sean Bratches becoming managing director, commercial operations, and former Mercedes team principal Ross Brawn becoming managing director, motor sports. It is Brawn’s first role in the sport since leaving the Silver Arrows at the end of the 2013 F1 season and ends years of speculation over what his next job would be.
Bernie Ecclestone stays on only as chairman emeritus, meaning his near 40-year spell in charge of the sport comes to an end.
Carey was pleased to be able to bring new people on board to offer their insights into developing F1 in future years.
“I am delighted to welcome Ross back to Formula 1,” he said in a Liberty press release. “In his 40 years in the sport, he’s brought his magic touch to every team with which he has worked, has almost unparalleled technical knowledge, experience and relations, and I have already benefitted greatly from his advice and expertise.
“Sean was a driving force in building ESPN into one of the world’s leading sports franchises. His expertise and experience in sales, marketing, digital media, and distribution will be invaluable as we grow F1.”
In addition to being excited about working with the new members of F1’s staff, Carey paid tribute to Ecclestone’s work in developing the sport during his time single-handedly being in control.
“I would like to recognize and thank Bernie for his leadership over the decades. The sport is what it is today because of his and the talented team of executives he has led, and he will always be part of the F1 family.
“Bernie’s role as chairman emeritus befits his tremendous contribution to the sport and I am grateful for his continued insight and guidance as we build F1 for long-term success and the enjoyment of all those involved.”
EMAIL CAMERON AT firstname.lastname@example.org
The thoughts and opinions expressed here are those of the author and do not necessarily reflect those of PopularSpeed.com, its owners, management or other contributors. Any links contained in this article should not be considered an endorsement.