Ecclestone removed as F1 chief as $8bn takeover is completed

Bernie Ecclestone at the 2016 US Grand Prix

Bernie Ecclestone has been removed from his position running Formula 1 as US giant Liberty Media completed its $ 8bn (£6.4bn) takeover of the sport.

Ecclestone, 86, who has been in charge for nearly 40 years, has been appointed chairman emeritus and will act as an adviser to the board.

Chase Carey has had Ecclestone’s former role of chief executive officer added to his existing position of chairman.

Liberty has also brought ex-Mercedes team boss Ross Brawn back to F1.

The former Ferrari technical director, who had been acting as a consultant to Liberty, has been appointed to lead the sporting and technical side of F1.

Ecclestone said earlier on Monday he had been “forced out”.

He told Germany’s Auto Motor und Sport: