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After Ecclestone jibe, Carey hits back!
- Updated: April 18, 2017
Formula One’s new boss Chase Carey has hit back at Bernie Ecclestone for looking to make short-term gains rather than looking at the overall picture for all involved.
“If you look at sports that have had incredible growth, like the English Premier League or the NFL, they have made investments to grow their franchise,” said Carey. “Some of the things that should have been done to support the events; marketing the sport better, creating access to digital platforms to bring in new fans, to provide research to understand how do you make it better, those sorts of tools didn’t exist.”
He explicitly said that Ecclestone should have ensured the welfare of all involved and not just his own company. Carey has started focussing more on destination cities, with larger local audiences.
Ecclestone believes that his model may force governments to disallow F1. He feared that charging way too much for hosting rights does not allow new cities to turn F1 into a profitable franchise.
“I charged promoters too much for what we provide,” said Ecclestone. “I did some good deals commercially. They are paying a lot of money, and most of them, if not all of them, are not making any money. Quite the opposite. Sooner or later I’m frightened that the governments behind them will say enough is enough, and bye-bye.”
Still, Ecclestone has been a strong critic of the new leadership ever since he was ousted from power. He criticised Malone for not looking into the welfare of shareholders and said they are instead focusing on making the sport more popular.
Ecclestone is currently the chairman emeritus of Formula One after being at the helm of decision-making for more than 4 decades. He said that the present leadership is under more pressure to perform.
Whose side would you take?