Ecclestone overseeing sale of F1 to US firm Liberty Media

While it was claimed that the deal would go through on Tuesday, it is now said that it will be finalised today. or possibly tomorrow.

The remainder of the deal would see Liberty Media Corp acquiring the remaining 78% of the company, which would be subject to the approval of certain regulators as well as the FIA, world motorsport’s governing body.

“They want me to be here for three years”, the 85-year-old, who over the decades has built the sport into a business with annual turnover of around $1.9 billion, said on Wednesday.

“Because all this is going through, they [CVC] want me to be there [in London] to help them with all sorts of things”.

Sources have previously said the takeover will see the sport gain a public stock listing for the first time through a tracking stock called Liberty Media Group. “I can’t afford to be away for five to six days”. “So I don’t know what effect that will have”, he said.

Ecclestone will miss the Singapore Grand Prix due to his commitments with CVC, something he is not entirely happy about.

After recent heightened speculation it was believed Ecclestone may be on the way out of F1 as part of the Liberty Group sale, who have been in extensive takeover talks in a reported £6.5bn deal. Ecclestone says Carey is likely to take control of a number of aspects that have arguably been neglected by F1’s current owners.

“He (Carey) can do lots of things that I haven’t done with this social media, which he seems to be in touch with”. He has been dealing with sponsorship with his TV people.