Farewell, Bernie: F1 Sold In £6bn Deal

Formula One Philip Boeckman

The future of Formula One looks to be finally settled, with US-based Liberty Media close to agreeing a £6.2bn stake with current owners CVC for a controlling stake in the sport.

The deal is also likely to result in Bernie Ecclestone finally walking away from his beloved sport. Like him or love him, Bernie has done an exceptional job since the seventies in transforming Formula 1 into a global brand, and one that is profitable. He's overseen an incredible evolution in safety standards, perhaps the most important aspect of his tenure. 

The sale does, however, raise questions about the lucrative nature of F1: Why do the smaller teams not see this money? By all accounts, CVC post profits exceeding one billion each year, so why are Sauber struggling to even make it to a race weekend? Hopefully the introduction of new owners will look to fix this balance, and not just pocket the profits. 

Ex-owner-turned pundit Eddie Journey believes that Ecclestone could depart before the next race in Singapore. However, the man is as stubborn as always, declaring that any move will be made entirely by him: "What role I play is my decision".

Most would certainly agree that the time has come for F1 to evolve further; the reluctance to go online and appeal to a younger audience is severely holding the sport back. The entrenched feeling that this is a sport for the elite and is unapproachable is made worse by the lack of a strong social media presence or a live-streaming service; take the UK as an example. Those wishing to watch the sport, baring a few races on Channel 4 each season, need to pay SKY obscene amounts for the SkyF1 channel. The move to subscription based television has been ongoing for years and is only going to get worse; Liberty Media need to correct this or else they will miss out on a new generation of fans. 

Philip Boeckman

Huge fan of @F1 and Motor Racing in general. I blog about anything and everything from the world of Formula 1