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Formula E boss plays down F1 role rumours

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Formula E boss plays down F1 role rumours

Formula E boss plays down F1 role rumours

Formula E boss Alejandro Agag has played down suggestions he is set to help run formula one in the wake of the buyout by US media tycoon John Malone.

“It’s not true,” the 45-year-old Spaniard, who founded the electric series Formula E and is often closely linked with F1 supremo Bernie Ecclestone, told Marca sports newspaper.

“What is true is that I am close to the new owners because one of their sister companies is the main shareholder of Formula E, but there has been no contact and I’m fine where I am,” he added.

Formula 1 faces its biggest shake-up in decades with the announcement on Wednesday that U.S. cable TV mogul John Malone’s Liberty Media has agreed to take control of the cash-generating glamour sport.

The company hopes to complete a deal for the remainder by the first quarter of 2017.

Chase Carey, the executive vice-chairman of Rupert Murdoch’s 21st Century Fox and a director of Sky News owner Sky Plc, will take over as chairman of the board of Formula One’s parent company with Ecclestone remaining as CEO.

“I greatly admire Formula One as a unique global sports entertainment franchise attracting hundreds of millions of fans each season from all around the world,” Carey said. “I see great opportunity to help Formula One continue to develop and prosper for the benefit of the sport, fans, teams and investors alike.”

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