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Ecclestone rubbishes F1 rival rumours
Bernie Ecclestone had denied claims that he is considering setting up a rival organisation to compete against Formula One.
The octogenarian's long reign as F1's supremo ended on Monday when upon completing their takeover of the sport, Liberty Media dispensed of his services, installing a new management structure headed by American Chase Carey.
Ecclestone was made an honorary chairman but his 40-year domination of F1 is now over - and he has no intention of creating a series to rival it.
"I wish to clear up the rumours that I am starting a series to compete against the FIA Formula One World Championship," he said in a statement issued to Reuters.
"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.
"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.
"This I have done for the different shareholders over the last years and also when I owned 100 per cent 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."
Photo: Getty Images/Mark Thompson
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