The final hurdle has been cleared as Liberty Media races towards completing its takeover of formula one.<\/p>\n
Earlier this week, shareholders of the US media tycoon John Malone’s company approved the buyout, saying the last hurdle would be the FIA’s green light.<\/p>\n
That was achieved on Wednesday, during an extraordinary meeting of the World Motor Sport Council in Geneva.<\/p>\n
The FIA, which will retain its controversial 1pc ownership share, said it believes Liberty “is clearly well positioned to ensure the continued development of its pinnacle championship”.<\/p>\n
The future of F1 supremo Bernie Ecclestone, however, is less clear.<\/p>\n
As Wednesday’s news broke, the Telegraph reported that 86-year-old Ecclestone will be “eased aside” in the new Liberty era.<\/p>\n
The newspaper said Ecclestone wanted to keep his role for up to three more years, “but so far all Liberty’s rhetoric has been about making a clean break with the past”.<\/p>\n
\u00a9 RIF | GMM<\/p>\n","protected":false},"excerpt":{"rendered":"
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