Chase Carey, the newly-appointed chief executive of Formula One has confirmed that the sport will have a new headquarters in the coming weeks, which will remain in the UK. It was previously run from the offices of Bernie Ecclestone in Knightsbridge, but it has been deemed too small by the new owners.
The 86-year-old, who was deposed from his position earlier in the month following a £6.2bn ($8bn) takeover by Liberty Media, has been given the chairman emeritus title and will be considered an adviser. However, Carey has made it clear that his company would decide when and where his inputs will be needed, while labeling the previous hierarchy's decision-making skills "inefficient" and "ineffective".
The new CEO has indicated that numerous changes will be made as they explore new avenues to promote the sport. Carey is keen on making each race larger than ever, similar to the Super Bowl in the US. It is an event that combines entertainment and sport with great aplomb to attract one of the highest viewership ratings across the world.
"We will not be able to run the business from Bernie's offices. They are too small. There isn't even room there for me now. We will find somewhere else. I am living here most of the time in an apartment in central London, and Formula One will still be based in the United Kingdom," Carey told the Daily Mail.
"Bernie is staying on as an advisor and I will be speaking to him. But it will be up to us where and when his advice is of help and appropriate. It won't be a one-man show now, but I will value his perspective and insights on Formula One.
"I find, particularly with the teams and promoters, that there has not been a long-term vision, but the deal of the day, and divide and conquer. The decision-making recently has been pretty inefficient and to some degree ineffective. We hope to address that to make those decisions in a much more efficient way," the American added.