Bernie Ecclestone backs the United Kingdom's decision to leave the European Union and doesn't believe it will have any negative impact on Formula 1 – in fact, it's likely to boost the sport's profits.
The UK held a referendum on Thursday in which it asked the voting public whether the country should remain a part of the EU, or leave. A majority (51.9 per cent) voted in favour of leaving and thus the process of exiting the EU is now underway.
That has hit markets worldwide with the majority trading much lower than before – some as much as 12 per cent – whilst the British Pound has taken a huge hit against the dollar, dropping around 8 per cent to £1.37 to $1.
Ecclestone admitted he supported leaving, believing the UK gains no benefit from being a part of the EU.
"I have been a supporter of this all the way through," the 85-year-old told Reuters. "I think it’s the best thing. We should be ruling ourselves.
"If we’ve got something to sell, and it’s a good product at the right price, people will buy whether they are Chinese, Italian or German.
"People will just get over this and get on with their lives."
F1 is set to gain from 'Brexit' because of the lower exchange rates because it does business in US Dollars, which is then converted to British Pounds as it is accounted for in London.
Some reports claim it could boost profits by as much as $180 million as well as boosting team profits for those based in the UK.
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