The 75-year-old Ecclestone says he might take it easy “after two or three years.” AFP / ANDREJ ISAKOVIC
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Formula One commercial chief Bernie Ecclestone said Wednesday he is overseeing the sale of the motorsport series to an American media conglomerate. In an interview with the Associated Press, Ecclestone said he will retain his role as F1 enters a new era under the ownership of cable TV group Liberty Media, which is controlled by 75-year-old tycoon John Malone. The sport returned to the U.S. in 2012 after a five year absence, with Austin hosting the race under the current deals.CVC is F1's biggest shareholder with a 35.5 percent stake, followed by U.S. fund manager Waddell & Reed with just over 20 percent. Ecclestone has 5.3 percent stake in F1 but his family Bambino Trust has a further 8.5 percent, rounding up his involvement up to about 14 percent.
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