Bernie Ecclestone has revealed that he has been deposed as CEO of the Formula One Group.

The Briton's role in the sport after more than forty years in charge was always in doubt as Liberty Media sought to take control, and today the 86-year-old confirmed that he is no longer in charge.

"I was deposed today," he told Germany's Auto Motor und Sport. "I am simply gone. It's official, I am no longer the leader of the company, my position has been taken by Chase Carey.

"My new position is one of those American terms," he added. "I'm now like an honorary president, I don't even know what it means.

"My days in the office will be getting quieter now," he admitted. "Maybe I will attend a grand prix sometime in the future, I still have many friends in Formula 1 and I still have enough money to afford to attend a race."

Asked if he will expects to retain his place on the World Motor Sport Council, Ecclestone, who still holds shares F1's parent company, said: "I doubt it. I will have to talk to Jean Todt about this."

The Briton's 'deposing' comes just days after the American company cleared two more hurdles in its bid to buy the sport, first getting the approval of its shareholders and then the blessing of the FIA.

While it was anticipated the purchase would be complete by the end of March, it is clear that Liberty is eager to get things wrapped up as soon as possible.

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READERS COMMENTS

1. Posted by Mugmug, 29/01/2017 13:09

"Now if only Jean Todt would follow him"

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2. Posted by Usedtobe, 24/01/2017 19:47 (moderated by an Adminstrator, 24/01/2017 19:58)

"This comment was removed by an administrator as it was judged to have broken the site's posting rules and etiquette."

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3. Posted by Usedtobe, 24/01/2017 19:45 (moderated by an Adminstrator, 24/01/2017 19:58)

"This was going to happen sooner or later. It would be recurrent talking about what was F1 under his governance therefore the mistakes he made. But i have to be recurrent about Liberty and their speech that looks to me no more than silver tongues. One has to remember that they surely didn't buy F1 to loose money, wich they didn't even have and must pay plus interests. Bernie Ecclstone may be acused of killing F1 in traditional venues, but the appointment for his place of a bean counter, as far as i know, whithout any motorsport experience whatsoever, doesn't leave me wanting to loose the firecracker.
"

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4. Posted by Spindoctor, 24/01/2017 17:13 (moderated by an Adminstrator, 24/01/2017 19:58)

"This comment was removed by an administrator as it was judged to have broken the site's posting rules and etiquette."

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5. Posted by Spindoctor, 24/01/2017 17:10

"The old adage 'Be careful what you wish for..' springs very much to mind.
We old fogeys who can remember Chapman, Enzo, von Trips, Chris Amon et al will probably not find Liberty Media's plans for the future to our taste. As has been endlessly rehe****d and rehashed in various news reports about Bernie he did indeed take it from an 'amateur' sport to where it's at today. And it today's F1, not the Sport many remember so fondly that has encouraged Liberty to write the cheque.

Personally I rather take issue with the notion that it woz Bernie wot done it.
The Social, Political and Economic context of all sports has changed out of all recognition over the last 30 years, and I suspect that F1 would have changed no-matter who was at the helm. It was Colin Chapman (remember him) who brought liveried sponsorship to the Sport: arguably the 1st step towards its wider popularity and increasing professionalism.
I'm also aware that cometh the hour, cometh the man, so so-long Bernie and thanks ......"

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6. Posted by karel, 24/01/2017 6:38

"Ecclestone did very good things in formula one, because the ERA to do it was there, 1970ees, but the last 10 years really was a disaster , by his own doing are influenced by others, I don't know, what I do know is that F1 has lost all his excitement and has become quite unaffordable. It's cleaner then a surgery room and has more regulations then a lot of other sports together. He raised F1 but he also killed it. Good that HE can afford seeing one a GP "

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7. Posted by TokyoAussie, 24/01/2017 3:27 (moderated by an Adminstrator, 24/01/2017 19:58)

"Mr. E: "...I still have enough money to afford to attend a race."

That's nice for him. I cannot justify the expense of taking my kid to a race any longer. And if I'm not the only one, where will the next generation of fans come from? "

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8. Posted by Willie, 24/01/2017 2:05

"As they say in Texas: AMF!"

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9. Posted by Pipsary, 24/01/2017 0:25

"Bernie has pointed F1 in the right direction but sadly not in the past 10 years! lets hope that things will now improve for the better and the talk of Silverstone going and Germany being lost from the calendar can become distant memories. Money should be spread equally between teams and circuits should only pay a percentage of their profits made each year rather than the rising costs imposed on them from many years ago. "

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10. Posted by Rappy, 23/01/2017 23:53 (moderated by an Adminstrator, 24/01/2017 19:58)

"Bernie: - "Maybe I will attend a grand prix sometime in the future, I still have many friends in Formula 1 and I still have enough money to afford to attend a race."
Only just Bernie, only just."

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11. Posted by NickK, 23/01/2017 23:10

"A million thanks to Bernie for all that he has achieved in taking Formula 1 to such great success and the splendid entertainment provided to me and fellow enthusiasts over so many years. In the process he has earned massive income and employment for the UK economy through his development of the modern F1 industry. No better candidate for a knighthood - unless he turned one down!"

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12. Posted by ryanhellyer, 23/01/2017 21:15

"Bernie has always had good intentions IMO. But his days as F1 supremo needed to end. For his sake, I think he should have just migrated the day to day running over to someone else and simply sat there as a figure head. Perhaps he'd still be top of the heap if he'd done that. But by sticking around like a bad smell, he's just created a situation in which he had to be booted out the door :/"

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13. Posted by Rock Doc, 23/01/2017 21:00

"While many will be dancing around and singing ' ... hail hail the witch is dead ... ' this is more of a case of ' Out the frying pan and into the fire '.

I'm not a big fan of Bernie but I have some serious concerns about the new owners and their direction. It doesn't look good. Yes he has done some shady deals but you generally find out afterwards that he has been the main reason why many of the failing teams have been able to survive. I'm not sure the new owners will have the same feel for F1.

Looking at the state of most north american sports I fear for it's future. Pay to view TV. Bland oval circuits. Franchised teams. They are all run to maximize the amount of money they can extract from the fans.

If you have any doubt then just look at the Toronto Maple Leafs. The perennial losers of Hockey, yet still in the league and extracting extortionate fees from the fans.

"

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14. Posted by GrahamG, 23/01/2017 20:44

"The first positive thing to happen to F1 in years. Whilst in earlier times Bernie did do a lot to build up F1 his actions and reputation for shady deals have done it nothing but a disservice for years.
"

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Ecclestone: It's official, I am gone

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