Formula 1 will relocate from Bernie Ecclestone's current offices in London, new CEO Chase Carey has announced.
Speaking to the media as he swept into power, replacing long-time F1 'supremo' Ecclestone, Carey said: "We will not be able to run the business from Bernie's offices. They are too small."
Replacing Ecclestone are Carey and managing directors Ross Brawn (sport) and Sean Bratches (commercial).
Referring to Ecclestone's 6 Princes Gate, Knightsbridge headquarters, Carey told the Daily Mail: "There isn't even room there for me now. We will find somewhere else.
"I am living here most of the time in an apartment in central London, and Formula 1 will still be based in the United Kingdom."
Sources report that although Ecclestone said he is being "deposed" but staying on board as honorary chairman, he was still at work this week.
Carey said: "It will be up to us where and when his advice is of help and appropriate."
He told The Sun: "Bernie is a one-man team - it was not right in today's world."
Ecclestone, 86, ran F1 for almost 40 years.
