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SOCHI, April 28. /TASS, Andrey Kartashov, Yevgeny Ionov/. Former chief executive of Formula One racing Bernie Ecclestone said on Friday that he never left the Royal Racing and on the contrary he moved a position higher and is enjoying it.
Sun, sea and speed ☀️⛵️⏱#RussianGP #F1Sochi #FP1 pic.twitter.com/OVchhXqCQ1— Formula 1 (@F1) 28 April 2017
US-based corporation Media Liberty announced in January it had closed a deal on the purchase of Formula One racing and appointed 62-year-old Chase Carey to take helm of the world’s most prestigious auto racing competition, often dubbed as the Royal Racing, in the capacity of Formula One executive director and general promoter. F1 Supremo Bernie Ecclestone, 86, was given the position of the Chairman Emeritus of Formula One Group.
"The problem is that I have not quit anything other than moved a little bit higher in the company," Ecclestone stated. "I am not doing a day-to-day thing, which I used to do as chief executive."
"Gives me a little bit more freedom to do what I want to do aside of Formula One," Ecclestone said adding that before that he used to "spend every minute of the day and night in Formula One."
The 86-year-old F1 supremo Ecclestone is currently on a visit to the Russian southern resort city of Sochi, which is hosting this weekend the 2017 F1 Russia Grand Prix.
Asked by a TASS correspondent whether the Russia Grand Prix was one of his favorites, Ecclestone said "Super! Yes, It is."
"I like the place, I like the people and have no complaints at all," he added.
This year Russia holds its fourth FIA Formula One racing Grand Prix in Sochi from April 28 to April 30.
The contract to include Russia in the calendar of F1 racing for the 2014-2020 period was signed in 2010 in Sochi by then-Prime Minister Vladimir Putin and former Formula One chief executive Bernie Ecclestone.
Two months ago the contract to hold F1 racing in Russia’s Sochi was extended until 2025.