LIBERTY MEDIA TAKEOVER
Controversial Ecclestone boosted Formula One to top
Bernie Ecclestone transformed grand prix racing into one of the most profitable sports and made himself a billionaire powerbroker
Paris — Bernie Ecclestone, who has been ousted as Formula One chief by its new American owner, transformed grand prix racing into one of the most profitable sports and made himself a billionaire powerbroker. A former second-hand car salesman, Ecclestone, now 86, ran Formula One with an iron fist for more than four decades, building it into a global empire with a cut-glass brand. His rule came crashing down on Monday when Liberty Media completed its multibillion-dollar takeover of the sport and appointed American Chase Carey as chairman and CE, elbowing Ecclestone aside with the title of "chairman emeritus". Ecclestone saw through the corporate smokescreen, saying bluntly, "I was dismissed today." Ecclestone has been the flamboyant figure at the centre of Formula One since the 1970s, crafting it into one of the world’s most glamorous and best-known sports. But his career has not been without controversy. Ecclestone paid $100m to German authorities to end a high-profile bribery trial ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.