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Category: Bernie Ecclestone

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Toto Wolff defends putting Mercedes’ interests ahead of F1 competition

• Team director rejects Ecclestone’s claim on lack of close racing• Claire Williams pledges support for financial balanceToto Wolff has defended the Mercedes team’s recent dominance in Formula One as fulfilling his commitment to Mercedes and its person…

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Toto Wolff defends putting Mercedes’ interests ahead of F1 competition

• Team director rejects Ecclestone’s claim on lack of close racing• Claire Williams pledges support for financial balanceToto Wolff has defended the Mercedes team’s recent dominance in Formula One as fulfilling his commitment to Mercedes and its person…

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Bernie Ecclestone urges Formula One to make bold switch to electric cars

• Former F1 chief executive urges new owners to make bold changes• ‘Liberty would need the balls to do it. I think they will have to do it’The former chief executive of Formula One Bernie Ecclestone has said he believes the sport needs to make a radica…

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Bernie Ecclestone hits back at F1’s decision to stop using grid girls

• These girls did nothing harmful to anybody, says ex-chief executive• ‘We might as well say we don’t want people to go to a fashion show’Bernie Ecclestone has defended the use of gird girls after the current bosses decided to end the practice at races…

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Formula One Group puts the boot into its predecessor, Bernie Ecclestone

• F1 chief executive Chase Carey cites ‘short-term, deal of the day focus’
• Key people will all be in place by August, says Carey

Chase Carey, the chief executive of the Formula One Group, the new owner of the sport, has explicitly criticised the previous administration of Formula One, managed by Bernie Ecclestone on behalf of CVC Capital.

Carey was speaking at the FIA sport conference being held this week in Geneva and made it clear his organisation was addressing the shortcomings it had inherited.

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F1 needs brains, not just Brawn, to end Ecclestone-induced malaise | Richard Williams

Bernie Ecclestone left many problems when he was removed as Formula One chief executive but most pressing is the need to improve the actual racing

Let’s face it: anything is better than Bernie Ecclestone, who used to say that money didn’t matter but was “just a way of keeping score”. Nobody believed him. The cash he extracted from Formula One over four decades of close involvement paid for the vast ski chalet in Gstaad, the villa on Sardinia’s Costa Smeralda, the ranch in Brazil, the executive jet, the lifestyles of his remarkable daughters – one living in a £75m house in Kensington Palace Gardens, the other in a $85m mansion in the hills above Los Angeles – and a £740m divorce from their mother. Not to mention the €100m paid into a German court in 2014 to avoid a trial on a charge of bribery, which still left him with a fortune estimated at more than £2bn.

So money mattered, just a bit, and Ecclestone became the living symbol of a sport that seemed to have more than it knew what to do with. The first time I interviewed him, on the eve of the 1982 season, he was inhabiting a London penthouse with double-height rooms across the river from Tate Britain. He told me that the sport would bankrupt itself within two years if a cap were not put on its expenditure. As would become increasingly apparent, Ecclestone’s motive for telling other people to spend less money was the belief it would mean more of the stuff for him.

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Bernie Ecclestone’s 40-year reign as F1 chief reaches end of road, say reports

• ‘I was deposed today,’ Ecclestone quoted as saying in German magazine
• American Chase Carey installed as new F1 chairman after sale to Liberty Media

Bernie Ecclestone appears to have confirmed that his reign at the head of Formula One is over. Ecclestone cast doubt over his role as chief executive when the sport’s governing body approved the sale of its commercial rights to Liberty Media last week.

And although there has been no word from Liberty about the 86-year-old so far, the man himself has said his time is up.

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Silverstone alternatives steer clear of bids for F1 British Grand Prix

• Ecclestone says two circuits have been in contact about hosting race
• Donington and Rockingham not interested in hosting British GP

The future of the British Grand Prix remains in doubt despite suggestions from Formula One’s chief executive, Bernie Ecclestone, that two circuits had been in contact regarding holding the race.

Silverstone’s owners, the British Racing Drivers’ Club (BRDC), were revealed on Thursday to be considering dropping the meeting after 2019 due to the cost. However alternatives are thin on the ground and several contenders have already ruled themselves out.

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Former Ferrari head Ross Brawn returns to Formula One in consultancy role

• 61-year-old had success in his days with Benetton and Ferrari
• Brawn walked away from the sport after the 2013 season

Ross Brawn, one of Formula One’s major players of the modern era, looks certain to be restored to the sport in the near future – but the precise role he will play remains uncertain.

After three years out, there were reports that he was about to be named the new head of Formula One. Instead, he is officially helping the sport’s future owner, Liberty Media, as a consultant.

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Nico Rosberg dismisses Bernie Ecclestone jibes as he closes on F1 title

• ‘I am here to win races, not to please everybody,’ says Mercedes driver
• Ecclestone believes victory for Rosberg would be bad for the sport

Nico Rosberg has said he is “not here to please everyone” after Bernie Ecclestone claimed it would be bad for the sport should the German win Formula One’s world championship, something he can achieve this weekend at the Mexican Grand Prix.

Ecclestone was critical of Rosberg in 2015 telling him: “You are bad for my business.” He followed this up at the last round in Austin by saying: “If Nico won the title it would be good for him and good for Mercedes but it wouldn’t necessarily help the sport because there is nothing to write about him. Even in Germany it wouldn’t help.”

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New F1 owner looks to replace Bernie Ecclestone in push for young fans

• Chief executive could be approaching end of an era after Liberty takeover
• Fomula E founder Alejandro Agag is a contender for the role

Formula One is understood to have begun the process of finding a successor to Bernie Ecclestone after Liberty Media’s purchase of the sport last week.

The new owner has stressed its intent to change the way F1 is run and has already appointed Chase Carey, a former executive vice-president of 21st Century Fox, as chairman of the Formula One Group. Ecclestone has said the company wants him to stay on as chief executive for a further three years but it is believed to be unlikely he will see out that period of time. The CEO and founder of Formula E, Alejandro Agag, is among the leading contenders to replace him.

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Chase Carey will breathe new life into F1 after Bernie Ecclestone neglect | Paul Weaver

Head of Liberty Media wants to get young fans to reconnect with the sport, saying ‘people connect with people, not with steel’

“Let me show you something,” Bernie Ecclestone tells me in his shiny black Formula One Management motorhome. He presses buttons on his mobile phone very hard, as if they were the keys of a particularly recalcitrant typewriter. Then, not understanding the results he had produced, he pecks hungrily at the buttons again.

He looks at the screen, squinting in bewilderment. Finally, he hurls the instrument to the floor in frustration. He may have broken it but he probably wouldn’t know the difference anyway.

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Chase Carey will breathe new life into F1 after Bernie Ecclestone neglect | Paul Weaver

Head of Liberty Media wants to get young fans to reconnect with the sport, saying ‘people connect with people, not with steel’

“Let me show you something,” Bernie Ecclestone tells me in his shiny black Formula One Management motorhome. He presses buttons on his mobile phone very hard, as if they were the keys of a particularly recalcitrant typewriter. Then, not understanding the results he had produced, he pecks hungrily at the buttons again.

He looks at the screen, squinting in bewilderment. Finally, he hurls the instrument to the floor in frustration. He may have broken it but he probably wouldn’t know the difference anyway.

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Liberty Media’s F1 deal strikes right notes but highlights Ecclestone’s contribution | Giles Richards

The $8bn purchase comes with promises of growth and catering to fans but also shows how Bernie Ecclestone has transformed the sport in recent decades

Meet the new boss, same as the old boss. Bernie Ecclestone is still the chief executive of Formula One after Liberty Media’s $8bn purchase of the sport, for the short term at least, which will not be taken well by his many detractors, who had hoped for a new broom with the new owners.

Related: Liberty Media agrees $8bn deal to buy Formula One

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Liberty Media agrees $8bn deal to buy Formula One

• Bernie Ecclestone to remain as chief executive
• Chase Carey set to become the new chairman

The US company Liberty Media says it has agreed an $8bn deal to buy Formula One – with Bernie Ecclestone retaining his position as chief executive.

John Malone’s group has confirmed the deal after talks with CVC Capital Partners, which has controlled the sport for a decade.

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Liberty Media agrees $8bn deal to buy Formula One

• Bernie Ecclestone to remain as chief executive
• Chase Carey set to become the new chairman

The US company Liberty Media says it has agreed an $8bn deal to buy Formula One – with Bernie Ecclestone retaining his position as chief executive.

John Malone’s group has confirmed the deal after talks with CVC Capital Partners, which has controlled the sport for a decade.

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Bernie Ecclestone claims he will be kept on after F1 takeover deal

• Liberty Media expected to complete takeover soon
• ‘They want me to be here for three years’ says Ecclestone

Related: The F1 money machine – where does all the cash come from?

Bernie Ecclestone claims he has been asked to stay on for three years after Formula One’s long-mooted takeover by Liberty Media has been completed.

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Bernie Ecclestone claims he will be kept on after F1 takeover deal

• Liberty Media expected to complete takeover soon
• ‘They want me to be here for three years’ says Ecclestone

Related: The F1 money machine – where does all the cash come from?

Bernie Ecclestone claims he has been asked to stay on for three years after Formula One’s long-mooted takeover by Liberty Media has been completed.

Continue reading…

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Bernie Ecclestone claims he will be kept on after F1 takeover deal

• Liberty Media expected to complete takeover soon
• ‘They want me to be here for three years’ says Ecclestone

Related: The F1 money machine – where does all the cash come from?

Bernie Ecclestone claims he has been asked to stay on for three years after Formula One’s long-mooted takeover by Liberty Media has been completed.

Continue reading…

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The F1 money machine – where does all the cash come from?

The £6.3bn sale of the controlling stake in Formula One will be CEO Bernie Ecclestone’s most profitable deal to date. Here’s why it is worth so much

While Lewis Hamilton may be a three-time Formula One world champion in the process of attempting to become the first British driver to win a fourth title, his racing has, for the past week, played second fiddle to the rather less glamorous clamour of the financial pages headlines.

His second place at Monza on Sunday was second-placed itself to the news that the sport was being sold – and the attention this has attracted reflects the real driving force behind F1: money, and lots of it.

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