FORMULA 1 : SOLD FOR A WHOPPING $8 BILLION DOLLARS !

FORMULA 1 : SOLD FOR A WHOPPING $8 BILLION DOLLARS !

The world iconic Formula 1 has been sold in a deal reportedly valued at a whopping $8 Billion Dollars.

But don't be quick to celebrate.

No, the F1 Supremo, Bernie Ecclestone, is not going anywhere. As yet.

He remains as CEO and will continue his reign over the motorsport giant.

Formula 1, however, will have a new Chairman. Chase Carey. He is a media mogul from 21st Century Fox.

Observers now regard him as new breath of fresh air for Formula 1.

He is expected to reinvent the brand attuned to the digital age of the 21st century.

Formula One sold to Liberty Media in deal valued at $8 billion https://t.co/jzfoGYQvLo pic.twitter.com/hlL7ArSDUK
— Sporting News NASCAR (@sn_nascar) September 7, 2016

SOLD: Formula 1 sold to US Liberty Media Group for more than $10 billion #F1 | https://t.co/UbbkIjV7xa pic.twitter.com/suHvoB0YUy
— FOX SPORTS News (@FOXSportsNews) September 7, 2016

Bernie Ecclestone's daughters will share a £500m windfall if F1 is sold to American media tycoon https://t.co/eBaNc2T3YB
— Daily Mail U.K. (@DailyMailUK) September 7, 2016

F1 is being sold for $4.4 billion but Bernie Ecclestone is staying put #comeatmebro . . . . . . #Bernie #bernieecclestone #f1 #formulaone #bro #sold #racing #car #lol #meme #funny #money
A photo posted by CLICKON Motorsport (@clickonmotorsport) on Sep 8, 2016 at 2:50pm PDT

The Face of Formula One. #libertymedia & #bernieecclestone pen a deal!!! 👏🏻👏🏻👏🏻 #racing #gridlife #formula1
A photo posted by Janis Jones (@originaltrophywife) on Sep 9, 2016 at 4:28pm PDT