FOM

A new dawn approaches…

It appears with breaking news this evening that Bernie Ecclestone, the FOM chairman and CEO of Formula One has been removed from his post effective immediately.

With the aquisition of the Liberty Media group in it’s final stages, it was clear that a shift in the heirarchy of the paddock walls was going to change.

Liberty Media are a company well versed in sports management and broadcasting, making them a great fit into the fold of F1 despite not having any prior experience of the sport to begin with.

Many are quick to point that fact out and hold, what almost feels like resentment towards the new owners despite not really knowing anything about them.

Some even think that the buyout of F1 is nothing more than another investment to create a cashcow.

This is not the case, because of what Liberty are as a company, their investment now rests on the sport to be successful, in all areas. Only then will they see return on their $8bn purchase of F1.

Rumours have been rife for months about the potential plans Liberty are plotting, yet none have been proven to be truthful thus far.

However, it has been pointed out in the last week that CEO Greg Maffei has made comments about how Ferrari recieve too much prize money for their participation in F1, this will no doubt cause feathers to be ruffled in Maranello. 

But, this is a signal of intent by the new owners, Bernie is now no longer the go to guy to help get deals through in their favour. 

This postering by Liberty is a power play that is clearly showing they have intentions and are willing to put them into action, however this could well yet take a while as the current concorde agreement which binds the teams to F1 still has until 2020 to expire.

However, when the time comes, radical changes will no doubt be in the pipeline to be made part of the championship in the future. 

Whatever the future may hold for the F1 world championship, It is now in a pair of hands that will do what’s best for the sport. 

I certainly look forward to what they’ll bring to the table. 

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