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Formula One Group

Formula 1 organisation

Formula One Group
Organisation information
AbbreviationFOG
Key members of staff
Chase CareyChairman
Bernie EcclestoneChairman Emeritus
Ross BrawnManaging director
Steve NielsenSporting director

Formula One Group are in charge of the commercial side of the sport, holding the rights to the sport in terms of promotion, broadcasting, TV revenues, prize money and much more. Initially run by Bernie Ecclestone, the group helped the sport evolve and grow, until January 2017, when Bernie was ousted from his position at the top. In his place, Chase Carey was handed the CEO and Chairman role to turn the fortunes of the sport around.

Biography

As a team owner, Bernie Ecclestone was very aware of what the teams required to get the most out of Formula One, and he founded the Formula One Constructors Association to help negotiate a better position for participants. He did battle with the governing bodies on many occasions to gain the commercial rights for the sport, and the ability to arrange broadcasting and prize money deals. After finishing up with his Brabham team, Bernie turned his attention to this commercial rights endeavour full time, creating the Formula One Promotions and Adminstration organisation.

This later became Formula One Management and Formula One Administration, both of which fell under the Formula One Group umbrella. The Group has changed hands on many occasions, with the most memorable owners being Ecclestone himself, and then CVC Capital Partners. In late 2016, Liberty Media bought a shareholding in the group, and in early 2017, took full ownership of Formula One Group. Chase Carey was brought in as CEO and Chairman, whilst Ross Brawn returned to F1 to head up the sporting side of the management structure.

The new owners have made many declarations that they will take into consideration changes required to turn around the sport’s ailing audience figures and global income, including the format of race weekends, the circuits that are taking part, and even ticket prices and media access.