Carey: 'Ecclestone still has a role to play'

"He has unique insights in the business, he understands it probably better than anyone else, his advice will be invaluable. He has been helpful to me to date and I look forward to his advice as we go forward," Chase Carey said.

Former F1 supremo Bernie Ecclestone may still be involved in Formula One after all.

Bernie Ecclestone's rule over Formula One may have come to an end but the man who has replaced him says the 86-year-old still has a role to play.

Ecclestone's lengthy stint at the top of the sport ended on Monday as Liberty Media announced the completion of their $8billion take over, with Chase Carey confirmed as F1's new chief executive.

The deposed supremo announced his departure before Liberty Media's own statement, the new owners expressing their desire to keep Ecclestone involved.

And Carey reiterated those feelings on Tuesday, saying he was keen to use Ecclestone's experience and knowledge of the sport to help it go from strength to strength.

"I am excited about the future, there is a lot I want to do and I am looking forward to getting on with it," the American told Sky Sports News.

"Let me be clear, that respect [for Ecclestone] was sincere. Bernie deserves enormous credit for the business that has been built over the last number of decades and realistically it just got sold for $8billion, so the ultimate proof in the value he created is there for all to see

"But he has unique insights in the business, he understands it probably better than anyone else, his advice will be invaluable. He has been helpful to me to date and I look forward to his advice as we go forward.

"Bernie has run this business the majority of his adult life. When he's run it for the period he's run it I certainly understand that the change is going to be difficult for him and create challenges for him. 

"Hopefully we'll find a way that it continues to be rewarding for him. I want him to feel good about it. He will always be part of the Formula One family, he will always be welcome, and I want to try and make this something he can continue to feel part of."

As well as Carey's appointment, Liberty Media also confirmed former team boss Ross Brawn as managing director, motor sports and he is expected to have a huge role in developing F1 on the track.

Carey added: "Liberty felt that over four or five years the sport had not grown to its full potential, they have put a new organisation in place that is able to grow sport in today's world, and work with the partners we have to make sport everything it can and should be for its fans.

"Ross brings a decade's worth of experience of incredible success in the sport.

"What we want to do is make sure we make the sport on the track everything we can and should be. Make it as exciting as possible for its fans, as energising as it can be for its fans - we think there's things we can do.

"It's a great sport today, it has drivers that are iconic stars, it has cars that combine power and technology that truly amazes people, a brand that has fans around the world, so it is a great sport with great tools but we need to continue to improve the sport on the track.

"Ross probably understands more than anybody how the sport works, the ins and outs of the sport. For Ross his real focus is how we make the sport on the track everything we can and should be."