Bernie Ecclestone reign as formula one supremo has come to an end after Liberty media announced its takeover and he has also been replaced by Chase Carey as Chief executive chairman.
Ecclestone will not move into an ambassadorial role of chairman emeritus after 40 years in charge of the sport.
Last week, in the week of the sport's governing body approving the sale of its commercial rights to Liberty Media, Ecclestone cast doubt over his role as chief executive.
And although there has been no word from Liberty about the 86-year-old so far, the man himself has said his time is up.
In quotes carried by German publication Auto, Motor and Sport, Ecclestone said: "I was deposed today. This is official, I do not run the company any more."
A statement from Ecclestone on Formula1.com said: “I’m proud of the business that I built over the last 40 years and all that I have achieved with Formula 1, and would like to thank all of the promoters, teams, sponsors and television companies that I have worked with.
"I’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.”
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