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		</div><p>Bernie Ecclestone&#8217;s four-decade reign as the ruler of Formula One is over after American company Liberty Media completed its £6billion (€7billion) purchase of the sport.</p>
<p>Chase Carey, who was already installed as the sport&#8217;s chairman, replaces Ecclestone as chief executive officer.</p>
<p>Ecclestone, 86, has been handed the role of chairman emeritus, and will be available as a source to the new board, but he will no longer be involved in the day-to-day running of Formula One for the first time since the 1970s.</p>
<p>&#8220;I&#8217;m proud of the business that I built over the last 40 years and all that I have achieved with Formula One, and would like to thank all of the promoters, teams, sponsors and television companies that I have worked with,&#8221; Ecclestone said.</p>
<p>&#8220;I&#8217;m very pleased that the business has been acquired by Liberty and that it intends to invest in the future of F1. I am sure that Chase will execute his role in a way that will benefit the sport.&#8221;</p>
<p>Ecclestone had stated earlier today that he had been stepped down.</p>
<p>In an interview with German publication Auto Motor und Sport, Ecclestone said: &#8221;I was deposed today. This is official, I do not run the company any more.&#8221;</p>
<p>And after completing the deal, Liberty Media, which is now expected to usher in a new dawn for the sport, paid tribute to the departing chief executive.</p>
<p>&#8220;I would like to recognise and thank Bernie for his leadership over the decades,&#8221; Carey, also the vice chairman of 21st Century Fox, said.</p>
<p>&#8220;The sport is what it is today because of him and the talented team of executives he has led, and he will always be part of the F1 family.</p>
<p>&#8220;Bernie&#8217;s role as chairman emeritus befits his tremendous contribution to the sport and I am grateful for his continued insight and guidance as we build F1 for long-term success and the enjoyment of all those involved.&#8221;</p>
<p>Greg Maffei, President and CEO of Liberty Media Corporation, added: &#8220;I&#8217;d like to thank Bernie Ecclestone, who becomes chairman emeritus, for his tremendous success in building this remarkable global sport.&#8221;</p>
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