Liberty Media should have retained Ecclestone, says Mosley

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New Formula One owners Liberty Media should have kept Bernie Ecclestone on as chief executive, according to former FIA president Max Mosley.

Ecclestone's long-time rule over F1 came to an end last month after an $8billion takeover was completed by Liberty Media, with Chase Carey confirmed as the new chief executive.

In September, 86-year-old Ecclestone claimed he was asked to stay on for another three years but later said he had been "dismissed".

And Mosley believes it is a mistake not to use Ecclestone's expertise.

"I think it may be quite difficult [for Liberty Media]. I think what he [Ecclestone] was brilliant at was dealing with the promoters and the organisers and the whole structure of the championship," he told ITV. 

"For somebody new to come in without all the personal relationships it may be difficult.

"If it had been me I'd have kept him on doing the things that he's demonstrably very good at and concentrated my efforts on doing the things that up to now have not been done, like interactive television, virtual reality, social media, the internet and all the rest of it. 

"All of that's been slightly neglected in Formula One and that's the sort of thing that Liberty will probably be very good at."

Mercedes boss Toto Wolff agrees that a "lot of knowledge is lost" by losing Ecclestone, but is excited to see where F1 goes under the new regime.

"There is a risk that a lot of knowledge is lost. Bernie has developed this series into one of the largest global sports companies in the last 40 years," he told Allgemeine Zeitung. 

"He has made incredibly good deals, we have long-term TV contracts and we achieve great reach because we run on free TV. 

"Becoming part of that is certainly not easy because so much is based on personal relationships that Bernie has built up over decades.

"On the other hand, there are also blind spots where we can improve.

"We do not have enough in the digital media yet. This is something that is not yet monetised, but as a marketing tool it is of immense importance to attract new target groups"