Red Bull Welcome Takeover Of 'Too Complex' F1

The boss of Red Bull Racing has called on Formula One's new owners Liberty Media to make the sport less complex and predictable following completion of a deal that values the sport at £6bn.

Christian Horner welcomed the deal , first reported by Sky News, and the decision to retain 85-year-old Bernie Ecclestone as chief executive for a transitional period, but told Sky News the deal offers the sport a chance to address major challenges.

Horner, who oversaw four consecutive drivers' and constructors' championships between 2010 and 2013, says the sport has become too complicated for the casual viewer to follow, and failed to reach out to younger audiences on Ecclestone's watch.

He also believes that serial success of one team, currently Mercedes (Xetra: 710000 - news) , with Lewis Hamilton's pursuit of a third consecutive title challenged only by teammate Nico Rosberg, has turned off viewers.

"I think F1 is guilty of being too complex, the regulations are hugely intricate, so the key factor is it needs to be kept simple," he said.

"The casual viewer needs to tune in and follow and understand without having to be a specialist in DRS (Other OTC: DRSX - news) or energy recovery systems. I think we need to go back to basics son some of these regulations.

"Serial winning in sport is never popular, and fans aren't going to engage if they know what the outcome of a race is going to be. "

Despite technical innovation on the track, largely led by British-based team such as Red Bull, Horner believes the sport has ignored the opportunities presented by digital and social media.

As a media company with sports and broadcasting interests already in its portfolio, including Virgin Media and Discovery Network, which owns Eurosport, Horner believes Liberty Media is well placed to address the problem.

"I think Liberty Media are the best buyers for Formula, I think it's exciting," he said.

"The expertise they have, especially on digital and social platforms and in the US market are all areas that F1 have historically been weak in.

"Bernie [Ecclestone] is the master deal maker with promoters, with television companies, with the sponsors. His weakness, as he'll admit, is how to exploit the digital platforms.

"He has built the business into what it is today, a phenomenal sport with a value of more than $8bn (£6bn).

"He's so intrinsic to so many deals that it would be incredibly difficult to pick up the reigns without him being there. But Liberty are perfectly placed to exploit and generate revenue streams from those avenues and build a much broader fan base."

Liberty Media, controlled by American businessman John Malone, has completed an initial 18.7% purchase that will be followed by a full takeover worth £3.3bn in cash and shares within months following approval from European and US regulators, and motor-racing's governing body the FIA.

Ecclestone will receive £300m for his 5.3% stake in the company, currently controlled by investment vehicle CVC Capital, and a stake owned by his family trusts, which will ultimately benefit his daughters, could gain close to £500m.

Addressing Formula One's structural problems and focus may be a gradual process with Ecclestone still at the wheel.

He has engineered a unique structure in which circuits, sponsors and broadcasters all pay for the right to be part of the F1 circus, and teams negotiate directly with him for their share of the proceeds.

The technical focus has also increased costs and complexity for teams, and endless rule changes have made deciphering qualifying and races a challenge to lay audiences.

The US has also been a stubborn market to crack, and Liberty will hope to have more success given their roots.

Horner says he expects Red Bull to remain in F1 after the conclusion of the current deal between teams and Ecclestone, known as the Concorde Agreement.

He also believes that the recent vote to leave the European Union will not affect the UK's status as a centre-of-excellence and innovation in the sport. Red Bull is one of eight teams based in the south-east, including Mercedes.

"I think F1, the essence of F1, is based in the UK and there's a skill set that is fundamentally here. I think the Brexit vote is irrelevant to that. F1 is so British-centric that I can't see that being interrupted."