Ecclestone: I charged new circuits too much


Bernie Ecclestone admits he overcharged Formula 1’s new circuits but hopes that new owners Liberty Media will right his wrongs.

As F1 supremo for four decades, Ecclestone was known for driving a hard bargain with many circuits complaining about the ever-increasing costs of hosting grands prix.

And the Brit has made that damning admission that he charged them too much.

“When I convinced these people to build this place and all the other places, I feel a little bit responsible,” he told reporters in Bahrain.

“I charged them too much for what we provided so I feel a bit responsible. So when they ask me things I try and help them.

“We’ve delivered… Nothing to do with Liberty, and it went on my watch, we didn’t deliver the show that we charged them for.”

He added: “The only thing that would be good for everyone would be if we could charge the promoters a lot less money.

“I did some good deals commercially. They are paying a lot of money, and most of them, if not all of them, are not making any money. Quite the opposite.

“Sooner or later I’m frightened that the governments behind them will say enough is enough, and bye-bye.”

It is a good thing then that Ecclestone reckons Liberty will come at it with a different approach.

“It doesn’t seem to me that they are doing things for money, which is good, whereas I was.

“I was running the company to try and make money for the shareholders.

“It doesn’t seem that’s the thing that’s driving them. He [F1 CEO Chase Carey] wants to get more happy spectators I think.”