F1 News Round-up #2

Another big couple of weeks have been and here you can find all the latest news on Liberty Media’s takeover and the collapse of Manor F1.

01/02/17

Liberty Media in, Ecclestone out

Bernie Ecclestone has been removed from his position running Formula 1 as US giant Liberty Media completed its takeover of the sport. Liberty has brought ex-Mercedes team boss Ross Brawn back to F1 as the new Managing Director. Ecclestone said he had been “forced out”.

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.”

Manor fold as no buyer is found

The Manor F1 team have ceased trading after administrators failed to find a buyer for the outfit. Administrators had been in talks with would-be buyers, but no deal to save the team from collapse. The team’s collapse leaves 10 teams – 20 cars – on the grid in Melbourne for the first race of the season. A decisive moment for the team was a result of Sauber’s Felipe Nasr finishing ninth in the 2nd race of last season in Brazil. This cost the team in the region of $15m (£12m) in prize money.

Lowe confirms move to Williams

Former Mercedes Paddy Lowe will join the Williams in its most senior technical position. Lowe, 54, former executive director at Mercedes, left Mercedes in early January will take the roles as shareholder and director. James Allison is still the main man to replace Lowe at Mercedes.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s