A big take-over and a new era of popularity for F1?
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Last month’s news that Formula One is finally under new ownership felt like a fresh wave for the sport. American entertainment conglomerate Liberty Media’s new deal, believed to be up to $6billion, brings a new wave of optimism for the fans of the modern sport. TV giant Chase Carey has been appointed as Formula One's new chairman, succeeding the relatively quiet Peter Brabeck-Letmathe (of former majority stakeholders CVC Capital Partners), with CEO Bernie Ecclestone retaining his current role for at least the next three years in order to pass on his four decades of Formula One experience to the new owners. "I am thrilled to take up the role of Chairman of Formula One and have the opportunity to work alongside Bernie Ecclestone, CVC and the Liberty Media team," explains Carey in an official statement from Liberty Media. "I greatly admire Formula One as a unique global sports entertainment franchise attracting hundreds of millions of fans each season from all around the world. I see great opportunity to help Formula One continue to develop and prosper for the benefits of the sport, fans, teams and investors alike".
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