New F1 CEO wants to end dictatorship

Formula One's new chairman has said that the sport cannot be run as a dictatorship.

The American media mogul, who was in attendance at last weekend's Singapore Grand Prix, told F1.com that even if the sport has had one over ruling party in the past, it cannot be that way any more and "compromises" need to be sought.

"You cannot make everybody happy all the time, but you’ve got to understand what everybody wants and then find a path," said Carey. "Sure, that is not a task for a committee, as committees tend to become bureaucratic – but there also can’t be a dictatorship – even if probably here they are used to it."

"They need leadership, and leadership means that you create a vision to achieve the right goals for the future. Successful businesses are built on successful leadership that understands what every party wants. There have to be compromises."

However, Carey stopped short of saying that Bernie Ecclestone would be ousted, insisting he would work alongside the 86-year-old.

"Bernie is the CEO, so Bernie is going to lead it and I will work with Bernie to establish some kind of strategic plan to where you want to go," he said. "With all credit to Bernie, he’s had enormous success – the world admires Bernie for the business that he has built – but I still think that there is another level that we can take Formula One to."

He also reiterated his desire to crack the American market.

Formula One has typically struggled to make an impression in the United States, despite hosting Grands Prix on-and-off since the championship began in 1950 and hosting two races in the country in the 1970s and '80s.

"We clearly will have a plan to develop America, and to be in the right market," he added. "As I said earlier, there is a big untapped audience in the US."

"Formula One is a great premium brand and that means to me that you want to be at a location like Los Angeles, New York or Miami. Ideally in the great cities in the world."