Ecclestone: 'My F1 reign is over'

"My position has been taken by Chase Carey [who Liberty have appointed as the chairman of F1]," Ecclestone said.

After almost 40 years in control of F1, Bernie Ecclestone now looks to have been eased aside.

Long-time Formula One supremo Bernie Ecclestone says his reign at the helm of the sport is over.

In an interview with German magazine  Auto Motor und Sport , the 86-year-old announced he had been deposed as chief executive - as Liberty Media prepares to complete the takeover of F1.

"I was stripped off my job today. I'm simply gone. It's official. I do not run the enterprise any more," Ecclestone was quoted as saying on Monday.

"My position has been taken by Chase Carey [who Liberty have appointed as the chairman of F1]."

Ecclestone said his new role was "like an honorary president", adding: "I have this title without knowing what it means."

When Liberty agreed a deal to take over F1 last September, Ecclestone said he had been asked to stay on as chief executive for a further three years.

However, after almost 40 years in control of F1, the Englishman now looks to have been eased aside.