Carey reveals 'frustration' with Ecclestone era

Formula 1 chairman and chief executive Chase Carey believes Bernie Ecclestone's approach to management has led to "a level of frustration" within the sport.

Carey took over from Ecclestone when Liberty Media completed its acquisition of Formula 1 in January of this year, quickly putting in place a three-man management team also including Ross Brawn and Sean Bratches. In April, Ecclestone claimed he had not been involved by the new owners and Carey says the recent past had seen the 86-year-old fail to deliver progress.

"Day-to-day I find a level of frustration," Carey told the Press Association. "It was very much a sport that got into a habit of saying 'no' too much. I want to be saying 'yes' to a whole lot more. What is the value of having an idea if the answer to everything you want to do is 'no'? All it does is create frustration.

"There are an array of things that weren't done that needed to be done. We felt it was a sport that for the last five or six years had really not been managed to its full potential or taken advantage of what was here.

"All of us make mistakes and nobody is perfect. Bernie took a business from decades ago and sold it for eight billion dollars. He deserves all the credit in the world for what he has done. But in today's world you need to market a sport. We were not marketing the sport.

"When you have someone so identified with the sport for such a long period of time there is always going to be some degree of complexity. I will do what I think is right.

"Bernie's style was divide and conquer – to keep everything very close – but we want it to be a spirit of partnership in that we compete on the track. The teams, the promoters, Formula One [Group] and the FIA all have a shared vision of where we want the sport to go and building it in a way that is healthy for everybody."

Carey explained how Liberty's approach will differ from Ecclestone's in trying to build toward a future vision, which will result in a lack of immediate changes.

"It has been three months and we have been very clear that one of the things the sport has not been served well by is a continued short-term focus – what we are going to do next week.

"We care more about where the sport is going to be three years from now than three months from now. Bernie was always very focused on the short term, and our focus is on building long-term value.

"Some of the decisions that were made needed to have a better process to think through. The current engine, for example, ended up being too complicated, too expensive, and lost some of the sound that added to the mystique of the sport.

"We will do things and some things take time – you are not going to have a new engine in two months because if you tried to do that you are going to do more harm than good.

"We want to make sure we have the tools to manage the business as opposed to throwing things out there so somebody has a media story."