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Ecclestone not 'deposed' his replacement Chase Carey insists

The new boss of Formula One has insisted that Bernie Ecclestone was not "deposed" after 40 years running the sport.

Mr Ecclestone, 86, told the German publication Auto Motor und Sport on Monday that he had been forced out after F1's new American owner, Liberty Media, completed its $8bn takeover.

But Chase Carey, F1's chairman and chief executive, insisted Mr Ecclestone would continue to be involved by providing advice to Liberty and that the former south London motor dealer had accepted the title of 'chairman emeritus'.

Mr Carey told Sky News: "Deposed isn't a word I'd use but he is no longer CEO, I am CEO.

"The role he had, he no longer has. We gave him a title that hopefully respects what he's been to the business and I spoke to him yesterday.

"He's an adviser to the board, including me, and we look forward to his help."

Mr Carey, who is vice chairman of 21st Century Fox, the US media company that owns 39% of Sky News owner Sky plc (Frankfurt: 893517 - news) , indicated that F1 would be run in a very different way than it had been under Mr Ecclestone, who was frequently accused of using 'divide and rule' tactics among the construction teams that take part in F1.

He confirmed that the construction teams would be offered a stake in the business and said he wanted to work in a collaborative way with the teams in order to make the sport work better for everyone.

He added: "We've got meetings in coming weeks with the teams about equity.

"We'd like a partnership with the teams. (Offering) equity is just one way to align us with the teams, but our overall goal in any event is to create more of a partnership with promoters, sponsors, broadcasters - how do we grow this sport and share the benefits? How do you make it healthier? Make the business better?

"I'd like to have it that owning a team is a good business, that you'd want to own teams and find it a profitable enterprise. And being a promoter. I'd like F1 to grow - for us all to be operating successful, growing businesses."

Mr Carey said a priority for Liberty would be making F1 more competitive.

There have been frequent complaints that the sport has become too predictable in recent years, with Mercedes (Xetra: 710000 - news) winning the constructor's title for the last three years, something that even Mr Ecclestone admitted to recently, declaring that "Mercedes have made races boring".

The new F1 chief executive went on: "We can make the competition healthier. As I've gone around, I hear the same things - the rules are too complicated, engineers have taken over from drivers - and…addressing those issues clearly requires us to engage with our partners and find solutions.

"We have a great sport with great stars, cars that combine power and technology in a unique way and a fabulous global brand. But we can make the product better."

Mr Carey declined to say whether dividing the sport's revenues more fairly might mean an end to the prize money that Ferrari (Xetra: 30092157.DE - news) , as the only constructor to have been with F1 since the start, is guaranteed each season.

:: See Chase Carey's interview on Ian King Live at 6.30pm on Sky News

But he added: "They (the constructors) all agree that, for a sport to be great, it needs the drama of competition and the opportunity for the underdog to win."

Liberty has stressed that unlike its days under Mr Ecclestone, when the sport made most of its money from TV rights and charging circuits fees to host the races, F1 will need to broaden its revenue streams.

This is likely to see expanding F1's online presence becoming a priority for the sport, along with making each Grand Prix a 'Super Bowl' in their respective territory, creating more excitement about each race.

Mr Carey has also said it will be important for F1 to broaden its appeal in markets like China and the United States.

He insisted, though, that this did not mean F1 would be turning its back on its traditional heartland in Europe.

There has been speculation that Silverstone, which has been struggling to meet the race fees charged by F1, might have to give up hosting the British Grand Prix.

But Mr Carey insisted: "We plan to have a British Grand Prix - they (Silverstone) made money this year.

"We want to make it (the British Grand Prix) bigger and better and that's our goal."