Bernie Ecclestone removed as Liberty Media completes $8bn takeover

Bernie Ecclestone: “I’m proud of the business that I built over the past 40 years and all that I have achieved with Formula 1. I 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.”

Chase Carey: “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, [governing body] FIA, promoters and sponsors on their ideas and hopes for the sport.

“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.”

Greg Maffei, president and CEO of Liberty Media Corporation: “We are delighted to have completed the acquisition of F1 and that Chase will lead this business as CEO. I’d like to thank Bernie Ecclestone for his tremendous success in building this remarkable global sport.”

Zak Brown, executive director, McLaren Technology Group: “Formula 1 wouldn’t be the international sporting powerhouse that it is today without the truly enormous contribution made over the past half-century by Bernie Ecclestone. Indeed, I can’t think of a single other person who has had anything like as much influence on building a global sport as he has.

“Today is a day on which we should all pay tribute to a remarkable visionary entrepreneur called Bernie Ecclestone, and to say thank you to him too.”

Murray Walker, F1 commentator, speaking to BBC Radio 5 live: “Formula 1 owes him an immeasurable debt. He is a very tough businessman but if he shakes your hand you don’t need a contract. He’s as good as his word.

“The most important thing under Bernie’s rule was the safety aspect. Formula 1 has been absolutely transformed. There was a time when four or five people were being killed every year but Bernie, with the help of Professor Sid Watkins, transformed that situation.”