Bernie Ecclestone has left his role as Formula 1's CEO as Liberty Media's takeover of the sport nears completion, according to a report.
Ecclestone, 86, has been F1's commercial chief for over four decades, playing an instrumental role in turning the series into a global phenomenon and one of the most watched sporting events in the world.
Liberty announced in September that it had agreed terms to acquire F1, with former 21st Century Fox chief Chase Carey being installed as F1's new chairman.
Ecclestone remained F1's CEO following Carey's arrival, but has now been relieved of his role ahead of Liberty completing its takeover at the end of the month, having received final approval from the FIA last week.
Speaking to Auto Motor und Sport, Ecclestone confirmed that he had been forced to resign from his role on Monday, with Carey taking over his position.
"I was deposed today," Ecclestone said. "This is official. I do not run the company anymore. My position has been taken over by Chase Carey."
Ecclestone is set to continue in the role of honorary president, but called the position "such an American expression. I'll get this title without knowing what it means.
"My days in office are now somewhat calmer. Maybe I'll come to a grand prix. I still have a lot of friends in the Formula 1. And I still have enough money to be able to afford a visit to a race."
Liberty Media is yet to issue any official comment on Ecclestone's position.
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