Bernie Ecclestone has been replaced as the boss of Formula 1, the sport's new rights owner Liberty Media has confirmed.

Ross Brawn, the former Ferrari and Mercedes chief, has been appointed as motor sport managing director after three years away from the sport. Sean Bratches, an American TV sports executive, becomes commercial operations managing director as part of a new-look F1 management structure.

How much is Bernie Ecclestone worth, how much did he sell F1 for and who are his daughters Tamara and Petra Stunt?

Brawn returns to Formula 1. Liberty Media's statement carried quotes from Ecclestone, who said: I am sure that Chase will execute his role in a way that will benefit the sport. 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.

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.

Retired champion Nico Rosberg was the first of the sport's big names to react on social media, tweeting: But a change has been overdue. Carey, all the best in making our sport awesome again. Sky F1's Martin Brundle tweeted: New McLaren chief Zak Brown, who had previously been linked with a job with F1's new owners before accepting his role at the Woking team, paid tribute to Ecclestone while also welcoming Liberty and its plans for the sport.

And we at McLaren will be eager to help them - indeed we already enjoy great relationships with the Liberty Media principals and we're looking forward to working very closely with them. The end of Ecclestone's day-to-day control of F1 represents a seismic moment in the sport's history.

The Briton has controlled F1's commercial rights since the s and is credited with the worldwide expansion of the sport and the growth of TV coverage.

People forget this was just another kind of motorsport, perhaps behind World Rally and sportscar racing in the public consciousness in the late s and early s. Ecclestone has really taken it to the forefront. The year-old said in September he had been asked by Day fact forex trader strategy to bands will make her dance lyrics 2 chainz on for three years after the American firm bought an initial 19 per cent stake in the sport.

Inside Bernie Ecclestone's inner sanctum: Martin Brundle interview gives fascinating insight into F1 supremo's sumptuous Brazilian estate, including his 'rubbish' animal statues | Daily Mail Online

But asked about his future last November in an interview with Sky F1's Brundle, Ecclestone said: Since striking a deal in September to take over F1's commercial rights from CVC Capital Partners, Liberty has been working to clear various hurdles and last week received unanimous approval for its takeover from the FIA's World Motor Sport Council.

The US-based firm, who have interests in media and entertainment ventures, are thought to be preparing a shake-up of F1 and the way in which it is promoted.

'He's dead right' Bernie Ecclestone responds after Chase Carey accuses him for stifling F1 growth

One how bernie ecclestone make his money is to Grands Prix into more compelling events, which each have a Super Bowl-type led binary options trading strategy review. The number of races which take place each year is also likely to increase, with 'destination' venues mooted in Las Vegas and Stock market disadvantages York as part of a bid to increase the sport's reach in the United States.

F1's prize-money and bonus structure may also be addressed, although the commercial agreements with teams are enshrined until The only place to see every race live and in UHD.

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Bernie Ecclestone replaced as F1 chief as Liberty Media takeover completed Long-time F1 chief succeeded by Chase Carey as Liberty Media completes takeover; Ecclestone becomes chairman emeritus and board advisor; Ross Brawn takes new management role By Stephen Turner and James Galloway Last Updated: Bernie Ecclestone has been replaced as chief executive of Formula 1.

Sky Sports News HQ's Craig Slater on Ecclestone no longer running Formula 1.

Martin Brundle says it is the right time for Ecclestone to step down. Who's who in F1's new structure? Chase Carey Chairman and chief executive Ross Brawn Managing director, motor sports Sean Bratches Managing director, commercial operations Bernie Ecclestone Chairman emeritus.

Martin Brundle speaks to a very forthright and candid Bernie Eccelestone about his future in the sport following Liberty Media's takeover move. Get Sky Sports F1 The only place to see every race live and in UHD. The Formula 1 Gossip Column FIA approves Liberty takeover dates and line-ups Get Sky Sports F1 in F1 won't be dumbed down.

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