Ecclestone dismisses F1 rival start-up rumors

Bernie Ecclestone may have been ousted by Formula 1's new owners, but says he has no interest in being involved in the creation of a rival series, in response to speculation to that effect that surfaced last week.

"I wish to clear up the rumors that I am starting a series to compete against the FIA Formula 1 World Championship," Ecclestone – who was replaced as F1 CEO by Liberty Media's Chase Carey, who has joined former champion F1 team principal Ross Brawn and ex-ESPN executive Sean Bratches in a three-man executive team – said in a statement issued to the Reuters news agency. "I have built the championship over the last near-50 years, which is something I am proud of, and the last thing I want is to see it damaged."

Ecclestone added that he anticipated Liberty's new leadership team will have more options available to it than he did while serving as F1's executive under the sport's former owners.

• INSIGHT: F1's Post-Bernie World

"The new owner of the company will be able to carry out the administration of the company in a different way to the way I had, which was to produce financial results for the shareholders, the normal actions of a chief executive," Ecclestone said. "This, I have done for the different shareholders over the last years and also when I owned 100% of the company.

"I would have loved the luxury of what Chase Carey, the CEO, is able to do. I hope the F1 supporters appreciate this as Chase intends to put money back into the sport."