Bernie Ecclestone puts stop to rumors of 'breakaway' series
Bernie Ecclestone has denied rumors to the effect that he intends to start a series to rival F1 after he was ousted from the CEO role at the start of this week.
In a statement to media outlets, he insisted that he would not take any action that would damage the business that he has built up over the decades.
“I wish to clear up the rumors that I am starting a series to compete against the FIA Formula One World Championship. I have built the Championship over the last near 50 years, which is something I am proud of, and the last thing I want, is to see it damaged.”
Ecclestone also suggested that his successor Chase Carey and the new owners would be able to push for change, whereas in the past he was focused on creating bigger profits for his shareholders. He noted that the new owners will be willing to put money back into the sport.
“The new owner of the company will be able to carry out the administration of the company in a different way to the way I had, which was to produce financial results for the shareholders, the normal actions of a chief executive,” said Ecclestone. “This, I have done for the different shareholders over the last years and also when I owned 100 percent of the company. I would have loved the luxury of what Chase Carey, the CEO, is able to do. I hope the F1 supporters appreciate this as Chase intends to put money back into the sport.”
He also noted: “I am very touched by the support and thanks that I have received from the people that I have dealt with over the years.”
