Rumors swirl about Ecclestone’s future (3rd Update)
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| Alejandro Agag |
(GMM) Formula E boss Alejandro Agag has played down suggestions he is set to help run formula one in the wake of the buyout by US media tycoon John Malone.
"It's not true," the 45-year-old Spaniard, who founded the electric series Formula E and is often closely linked with F1 supremo Bernie Ecclestone, told Marca sports newspaper.
"What is true is that I am close to the new owners because one of their sister companies is the main shareholder of Formula E, but there has been no contact and I'm fine where I am," he added.
09/07/16 This rumor is upgraded to 'fact' today. Liberty Media has been in advanced talks with CVC for a number of weeks, with it becoming clear during the Italian Grand Prix weekend that a takeover of the sport is imminent in an estimated £6.5bn deal. Part of those talks involve Ecclestone's future, with sports marketer Zak Brown linked with a role as part of F1's management and various reports suggesting Ecclestone could leave as American businessman Chase Carey is expected to become chairman.
However, on Wednesday Ecclestone says Liberty Media have requested he remain involved.
"They want me to be here for three years," Ecclestone told Reuters.
While Ecclestone's comment suggests he is wanted by the new owners, the 85-year-old does not state what the role is which he would be working in or if he would even accept the request.
The next race on the F1 calendar is the Singapore Grand Prix, but Ecclestone says he will now no longer be present at the race on 18 September because CVC wants him to help with the takeover talks.
"Because all this is going through, they (CVC) want me to be there to help them with all sorts of things. I can't afford to be away for five to six days," Ecclestone said.
09/06/16
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| Bernie Ecclestone will decide whether to retire or not |
A takeover of Formula One by Liberty Media, rumored to be imminent, could be good news for the sport but Bernie Ecclestone is likely to remain at the helm for some time yet, paddock insiders said on Sunday.
German magazine auto motor und sport reported at the Italian Grand Prix that the first of two tranches of payment in an $8.5 billion deal were expected to be paid on Tuesday. Liberty Media declined to comment.
The publication also quoted Ecclestone as saying his future role would be his decision.
Channel Four television pundit Eddie Jordan, a former team owner, said completion of the deal could force Ecclestone out but others doubted any departure would be rushed.
"There is obviously a lot of speculation going on. I sincerely hope it is not Bernie's last race and I don't believe it will be," Red Bull team principal Christian Horner told reporters.
"It could be a really exciting deal for Formula One if it happens…but for a new group to come in without him being there would be very difficult, so I'd assume he'll be around for some time."
Horner, who is close to Ecclestone and has been tipped in the past as a possible successor, said it was clear discussions were going on but everything remained conjecture until something was signed.
Austrian Niki Lauda, the retired triple world champion who raced for Ecclestone in the 1970s and is non-executive chairman of dominant Mercedes, said the Briton would be at the next race.
"This I can tell you. He will be in Singapore (on Sept. 18)," he told Reuters.
Ecclestone said before Sunday's race that "honestly, sincerely" he did not know whether Liberty were buying into the sport and had nothing more to say.
The 85-year-old met Ferrari and Fiat Chrysler head Sergio Marchionne along with Donald Mackenzie, co-chairman of rights holders CVC Capital Partners, at Monza. More at Reuters
09/05/16 (GMM) As big Rumors swirl about the sale of F1's commercial rights, Bernie Ecclestone has named a potential successor as chief executive.
At Monza, speculation swirled in the paddock that owner CVC had agreed an $8.5 billion sale deal with Liberty Media, headed by US media tycoon John Malone.
Multiple authoritative publications predicted that Ecclestone would only stay in charge for a transitionary phase, while F1 pundit Eddie Jordan claimed the 85-year-old would be gone by the time of the next race in Singapore.
Jordan told the German newspaper Bild: "I assume Bernie will announce his retirement in the next few days."
Ecclestone, having earlier confirmed the reports in the German press, dismissed the talk.
"You know what deals are like," he said. "Until the money is in the bank it's all nonsense."
It is rumored Ecclestone prefers selling to another interested party because it will guarantee his ongoing role at the top.
However, speaking to the German newspaper Bild, Ecclestone was then asked if he thinks Mercedes team boss Toto Wolff is the right man for the job.
"Absolutely," he answered. "He has the skills to do the job."
Ecclestone also said the shares that he controls – almost 14 per cent – are "not for sale".
It has been said the sale to a major US enterprise could ramp up F1's impact in the crucial American market, but Ecclestone insisted: "I think you would need 10 races for that.
"A lot of hamburgers would be sold, the prices would go down, and it would no longer be formula one."
When Wolff was asked about the swirling stories, he answered: "Honestly, I don't know. The details of the deal are not known to me.
"Over the past 50 years, Bernie has done a great job to make formula one as we know it today, and we all recognize his contribution.
"Only the future will reveal what opportunities there are to improve it further, but I would not like to speculate," Wolff added.