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Bernie Ecclestone replaced as Formula 1 boss

Bernie Ecclestone has been behind the wheel of Formula 1 for four decades. But he has now been replaced in the driving seat of the sport by the vice president of 21st Century Fox, Chase Carey. The move was announced by the American company, Liberty Media, which has completed its $8bn takeover of the sport. Mr Ecclestone, who's 86 and has turned Formula 1 into a lucrative business worldwide, said he'd been forced out. He's been moved from the post of chief executive to a role of chairman emeritus. Simon Chadwick is professor of sports enterprise at Salford University Business School in the UK, and the Βι¶ΉΤΌΕΔ's Susannah Streeter asked whether Mr Ecclestone might be feeling a little put out by the latest developments.

(Picture: Bernie Ecclestone. Picture credit: Getty Images.)

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