New boss Chase Carey takes over from 'Chairman Emeritus' Bernie Ecclestone, rolls out tech supremo Ross Brawn and business boss Sean Bratches
The world of Formula 1 Tuesday rolled out a bold new era as new CEO Chase Carey – who takes over the helm of the sport from Bernie Ecclestone - rolled out the sport's much anticipated new management structure.
“I am excited to be taking on the additional role of CEO," Carey confirmed. "F1 has huge potential with multiple untapped opportunities. “I have enjoyed hearing from the fans, teams, FIA, promoters and sponsors on their ideas and hopes for the sport. "We will work with all of these partners to enhance the racing experience and add new dimensions to the sport and we look forward to sharing these plans overtime.
Carey further confirmed that ex-F1 tech supremo Ross Brawn will return to the sport in a newly-created role of Managing Director, Motor Sports and communications guru Sean Bratches will take on a similar role on the commercial side.
“I am delighted to welcome Ross back to Formula 1," Carey admitted. " In his 40 years in the sport, Ross has brought his magic touch to every team with which he has worked, has almost unparalleled technical knowledge, experience and relationships, and I have already benefitted greatly from his advice and expertise.
“I am also thrilled Sean is joining Formula 1. "Sean was a driving force in building ESPN into one of the world's leading sports franchises and his expertise and experience in sales, marketing, digital media, and distribution will be invaluable as we grow Formula 1."
“It’s fantastic to be returning to the world of Formula 1,” Brawn admitted. “I’ve enjoyed consulting with Liberty Media these last few months and I’m looking forward to working with Chase, Sean and the rest of the Formula 1 team to help the evolution of the sport. “We have an almost unprecedented opportunity to work together with the teams and promoters for a better F1 for them and, most importantly, for the fans.”
Carey added: “I look forward to working with Ross and Sean, as well as key current executives including Duncan Llowarch, our CFO, and Sacha Woodward Hill, our General Counsel, the FIA, Bernie and Liberty as we work together to make Formula 1 the best it can be for the teams, promoters and fans for years to come.”
Bernie Ecclestone’s new position has meanwhile been confirmed as 'Chairman Emeritus' as 'a source of advice for the board of F1'. “I'm proud of the business that I built over the last 40 years and all that I have achieved with Formula 1," Ecclestone reflected. "I would like to thank all of the promoters, teams, sponsors and television companies that I have worked with.
“I'm very pleased that the business has been acquired by Liberty and that it intends to invest in the future of F1. I am sure that Chase will execute his role in a way that will benefit the sport.”
Meanwhile Greg Maffei, President and CEO of Liberty Media Corporation, confirmed: “We are delighted to have completed the acquisition of F1 and that Chase will lead this business as CEO. “There is an enormous opportunity to grow the sport, and we have every confidence that Chase, with his abilities and experience, is the right person to achieve this.
“I'd like to thank Bernie Ecclestone, who becomes Chairman Emeritus, for his tremendous success in building this remarkable global sport.”
Carey added: “I would like to recognise and thank Bernie for his leadership over the decades. The sport is what it is today because of him 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.”
ENDSIssued on behalf of Race News
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