Chase Carey has admitted the change of management within Formula 1 was required due to an apparent lack of growth in recent years, which resulted in the displacement of Bernie Ecclestone and the appointments of Ross Brawn and Sean Bratches.
Carey himself replaced Ecclestone as the Chief Executive Officer following the acquisition of Formula 1 by the Liberty Media Corporation, while Brawn and Bratches have come in as Managing Directors in sporting and commercial roles respectively, and the new CEO believes both will have an important part in helping the sport grow once more in the next few years.
“As we looked at the business, we felt that really particularly over the past four or five years the business had not grown, the sport had not grown, to its full potential,” said Carey to Sky Sports News.
“And that we needed to put a new organisation in place to be able to grow the sport in today’s world in the way it needs to grow, and in some ways work with the partners we have in the business to make sure we can make the sport everything it can and should be for its fans.
“I think both Sean and Ross will have critically important roles in developing the sport overall. Ross brings decades-long experience of incredible success in the sport.
“I think from Ross’s perspective what we want to do is make sure we make the sport on the track everything it can and should be, as exciting as possible for its fans, as energising as it can be for its fans.”
Carey believes Formula 1 is already a great sport, but he and the new owners have ideas of how to improve on the product, with Brawn in particularly focusing on what can be done to make it more exciting on track.
“We think there are things we can do. It’s a great sport today,” added Carey. “The drivers are iconic stars, it has cars that combine power and technology in a way that truly amazes people, a brand that has fans around the world. It is a great sport with great tools, but we need to continue to improve the sport on the track.
“And Ross understands as much as anybody how the sport works, what are the ins and outs of the sport. So for Ross his real focus is how do we make the sport on the track everything it can and should be.
“I’m excited about the future. There’s a lot that we want to do, and we’re looking forward to getting on with it.”