Date: 5th February 2017 at 10:08am
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Formula One’s once dictator Bernie Ecclestone, will not attempt to destroy his own creation now that he has lost control of the sport.

Following F1’s purchase by Liberty Media, there has been a change in the guard within the sport.

American Chase Carey is the sports new owner, chairman and CEO.

Ross Brawn has returned to Formula One as motorsport managing director and Bernie Ecclestone, is a mere honorary president.

Some rumours suggested that with Ecclestone’s known feelings behind the current rules and regulations of the sport that he may attempt to set up a rival series to take on Formula One, however Ecclestone moved quickly to not only dispel the rumours but to also add his enthusiasm towards Formula One’s new future.

In a statement released to Reuters and published on, Ecclestone said: ?I wish to clear up the rumours that I am starting a series to compete against the FIA Formula 1 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.

?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 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.?

?I am very touched by the support and thanks that I have received from the people that I have dealt with over the years.?