Newspaper article The Evening Standard (London, England)

New Owners to Make London Heartland of Formula One; Americans to Keep Headquarters in Capital and Will Push for Grand Prix on City's Streets

Newspaper article The Evening Standard (London, England)

New Owners to Make London Heartland of Formula One; Americans to Keep Headquarters in Capital and Will Push for Grand Prix on City's Streets

Article excerpt

Byline: Kevin Eason

FORMULA ONE'S new Ameri- can owners will make Lon- don the epicentre of the sport including pushing for a grand prix on the streets of the capital.

Fears that Liberty Media, the media conglomerate based in the United States who have completed the PS6.4bil- lion acquisition of Formula One, would move the sport's headquarters out of London after pushing aside Bernie Ecclestone have been quashed by Chase Carey, the new boss.

xecutive Carey (below) will move operations out of Ecclestone's offices in Princes Gate, across the road from Hyde Park, but the headquarters will remain in London. Insiders say that Carey and his new executive team will need the forensic skills of Sherlock Holmes as they enter Ecclestone's labyrin- thine world, his exclusive domain over 40 years running Formula One.

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The Standard y revealed yesterday that Carey wants Sacha Woodward--Hill, Ecclestone's chief legal officer and most trusted aide, to stay on to guide him through the welter of contracts struck with broadcasters and cir- cuits around the world. There will also be a job offer for Duncan Llowarch, the chief finan- cial officer.

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ob finantment, As part of his commitment, Carey has moved into an apartment not far from Ecclestone's forbidding headquarters in Knightsbridge.

It is a long way from his home town in Connecticut but Carey is already assessing Formula One's future just three days into his new job as chief executive. That will include attempting to resurrect plans for a London Grand Prix. A race around the capital, taking in world famous landmarks like Marble Arch, Buckingham Palace and Trafalgar Square was a long time dream of Eccle- stone's. He was so determined it would happen that he even offered to foot the projected PS40million bill for roadworks and infrastructure developments.

Ecclestone's vision was of massive interest from corporate clients, huge television revenues and vast crowds. His hunch that a race in London would be Britain's biggest crowd pleaser was underlined when Formula One staged a demonstration in Regent Street in 2004 in front of an estimated 250,000 spectators. …

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