Liberty Media completes F1 purchase, Chase Carey admits that he is "excited"

Liberty Media are now officially the new owners of Formula One after announcing they have completed the acquisition of F1.

New CEO of Formula One Chase Carey is very much looking forward to his new role in Formula One. Bernie Ecclestone revealed last night that he had been ousted as CEO in Liberty Media's takeover.

“I am excited to be taking on the additional role of CEO. F1 has huge potential with multiple untapped opportunities. I have enjoyed hearing from the fans, teams, FIA, promoters and sponsors on their ideas and hopes for the sport. We will work with all of these partners to enhance the racing experience and add new dimensions to the sport and we look forward to sharing these plans overtime.

“I would like to recognise and thank Bernie for his leadership over the decades. The sport is what it is today because of him and the talented team of executives he has led, and he will always be part of the F1 family. Bernie’s role as Chairman Emeritus befits his tremendous contribution to the sport and I am grateful for his continued insight and guidance as we build F1 for long-term success and the enjoyment of all those involved.”

Ecclestone also spoke on the matter, stating that he is proud of what he has built up in the last 40 years, and wishes his successor the best of luck for the future.

“I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula One, and would like to thank all of the promoters, teams, sponsors and television companies that I have worked with.

"I’m very pleased that the business has been acquired by Liberty and that it intends to invest in the future of F1. I am sure that Chase will execute his role in a way that will benefit the sport.”