Bernie Ecclestone appears to have been forced out of the racing organization he's been in charge of for nearly 40 years.
The 86-year-old Englishman told German sports magazine Auto Motor und Sport that he's no longer the Formula One boss.
"I was deposed today," he told Auto Motor und Sport. "This is official. I do not run the company anymore."
Colorado-based conglomerate Liberty Media— which also owns baseball's Atlanta Braves — is in the process of finalizing a purchase of Formula One.
Ecclestone told the magazine that Liberty Media's Chase Carey will replace him.
He says he was offered the title of 'honorary president' — but admits he doesn't know what that means.