F1 shake up

Featured Image
Date: 29th January 2017 at 7:16am
Written by:

Many within Formula One are hoping that the new regulations for 2017 will shake-up the sport on the track.

Since the move towards the V6 Hybrid-Turbo power-units Mercedes have dominated the sport, with three consecutive Formula One constructors titles and Lewis Hamilton [twice] and Nico Rosberg winning the drivers title.

New for 2017 are some regulation changes, which give more emphasis on the aerodynamic packages, moving away from an engine dominated sport.

This is hoped to close the gap for teams such as Red Bull Racing and Ferrari.

But away from the track, Formula One is likely to see it’s biggest shakeup, something that is likely to see the sport change forever.

Formula One’s new owners Liberty Media Group have parted company with independent directors Sir Martin Sorrell, Jean-Marc Huet and Chong Seng Kwa.

But they are background figures and as such, wouldn’t really change the look or feel to Formula One.

But the big move was to end Formula One supremo Bernie Ecclestone’s reign.

Ecclestone will no longer run the sport on a day-to-day basis, instead he has been offered the position of honorary president.

A statement from Liberty Media Group published on Sky Sports quoted Bernie as saying: ‘I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula 1, 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.’

Liberty Media Group have also announced the intention to allow Formula One teams to become shareholders within the sport.

F1’s new chairman Chase Carey wants to announce a plan for ‘$400m private offering of cash convertible senior notes as part of a deal to issue shares to the teams’.

‘Several of the teams have expressed interest in investing and we have already begun productive discussions to make the sport more competitive and even more exciting.’ Carey told Sky Sports.