Reign of F1 ringleader Bernie Ecclestone could be over

Bernie Ecclestone's reign as the ringleader of the F1 circus could be coming to an end after almost 40 years, as the Formula One Group of companies, which runs the sport, looks to appoint a new chairman.

It has been reported that the group wants to install Paul Walsh, the former chief executive of drinks giant Diageo, and transfer some of Ecclestone's responsibilities to him. The group's current chairman, Peter Brabeck-Letmathe, has been undergoing medical treatment.

The move appears to have the backing of CVC Partners, the private equity group which is the sport's controlling shareholder. It is "anxious to move quickly with F1 sinking deep into a financial and political crisis", reports The Times. "Although Ecclestone, 84, has had the support of CVC in the past, F1’s chief executive is seen as an obstacle to change.

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"CVC needs a corporate structure that is robust enough to stand up to scrutiny, whether from Europe or investors, if its plans to float the business on the Singapore Stock Exchange come to fruition."

This season has seen F1 lurch from "PR disaster to financial crisis", notes the Daily Telegraph, with Ecclestone at the centre of almost all the controversy.

In August the 84-year-old paid £60m to extricate himself from a bribery trial in Germany, which coincidentally revolved around the sale of F1 to CVC in 2006.

He was behind the controversial, and much derided, decision to award double points for the final race of the reason, which could have cost Lewis Hamilton the title. And he was then forced to apologise in the wake of the demise of Marussia and Caterham for branding other smaller teams "beggars" and "idiots".

Ecclestone was vocal during the early-season row over engine noise and also appeared to dismiss the youth market in an interview last month, suggesting that F1's younger fans could not afford Rolex watches.

"Walsh's appointment would represent another clipping of Ecclestone's wings after nearly 40 years of running F1 as he saw fit," says the Telegraph. "Insiders expect Walsh to push Ecclestone and keep a closer eye on his dealings than Brabeck-Letmathe."