F1 has seen a miraculous rise, ever since the new owner, Liberty Media, has taken over the sport. In what has been a significant turnaround for the sport, previous owner Bernie Ecclestone deserves equal credit. Moreover, he built this sport into the billion-dollar colossus it is now.

Bernie Ecclestone provided a rigid base for Formula 1 to grow financially. Additionally, he was an expert negotiator who ruled the rooster for a long time. Tom Bower, a renowned BBC journalist, explains how Bernie Ecclestone created his F1 empire.

Bower said, “No one could actually understand how a second-hand card dealer can actually build up and control and own Formula 1. And he cuts a few corners. He rubbed people up the wrong way. There are lot of Bruised Egos and Bruised Wallets and Bruised Reputations.” 

Furthermore, he added, “And so that combined to the fact that he doesn’t deny that Formula 1 itself is a mysterious sport with a lot of cheating and high-handedness cultivates the image that he could only have got that sort of fortune if he’d been dishonest” 

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F1 has come a long way since the takeover. Additionally, the fans and drivers are more connected to each other today.

Liberty Media’s F1 takeover from Bernie Ecclestone and Delta Topco

Formula 1 found a new owner in Liberty Media after they announced the acquisition from Delta Topco. Liberty Media Corporation bought Formula 1 for a reported $4.4 billion.

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The President and CEO of Liberty Media Corporation, Greg Maffei, commented, “There is an enormous opportunity to grow the sport, and we have every confidence that Chase (Chase Carey, Chief Executive Officer of F1), with his abilities and experience, is the right person to achieve this.”

He further added, “I’d like to thank Bernie Ecclestone, who becomes Chairman Emeritus, for his tremendous success in building this remarkable global sport.”

Additionally, former boss Bernie Ecclestone said, “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.

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Bernie Ecclestone built the Formula 1 empire out of nothing and now has a net worth of $3.3 Billion. Moreover, he paved the way for their future owners to take it a step forward.