It’s the end of the road for Bernie Ecclestone. After many laps of the track, the man at the wheel of F1 has been retired – ‘forced out’ by new kid on the block, Chase Carey.
At 63-years old, however, Carey is hardly a kid. He may be 23 years younger than Ecclestone, but this Harvard-educated media mogul has been around in business for a fair amount of time himself, launching Fox Sports, Fox News, and serving as the CEO of DirecTV for a brief stint. And just look at that moustache.
Last night saw American conglomerate Liberty Media finalise their takeover of Formula 1 as a sport, in a deal valued at around £6.4 billion. Carey, at the helm, had this to say:
“I am excited to be taking on the additional role of CEO. 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 over time.
“I would like to recognise and thank Bernie for his leadership over the decades,” Carey added. “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.”
So what can we expect for F1’s future? Carey, who got his MBA from Harvard, clearly has a business mind – attested to by his reputation for expanding brands, hitting almost every target he sets for himself and his companies, and his 2011 tipping as Rupert Murdoch’s successor as CEO of the News Corporation – a multinational corporation handling publishing, news, film and TV.
Carey went on to become COO of 21st Century Fox, the side of the News Corporation that owns and deals with the majority of the company’s film and television properties.
It would appear, then, that Carey has been brought on board to really crack America – where the F1 season really needs more than one event to truly achieve ‘international sport’ status. And, with Carey’s considerable influence with the media, expect an overhaul in coverage, much more money thrown at the sport – and some signature American bombast put in the tanks.
Become a Gentleman’s Journal Member?
Like the Gentleman’s Journal? Why not join the Clubhouse, a special kind of private club where members receive offers and experiences from hand-picked, premium brands. You will also receive invites to exclusive events, the quarterly print magazine delivered directly to your door and your own membership card.
