Ecclestone: I Will Never Retire

Formula One supremo Bernie Ecclestone has claimed he will never retire from running the Grand Prix circus as long as the teams involved want him to continue at the head of the sport.

Ecclestone has developed the sport into a global business involving many of the world's top motorsport manufacturers but has run into problems after selling 75 percent of his stake in commercial rights holding company SLEC.

He has retained control of the sport, despite not holding a controlling interest in SLEC, because he is recognised as the best man for the job - and he insists he is not ready to move on.

"I'm never going to retire," said 72-year old Ecclestone. "When you do so you have to take up a hobby and my only hobby is Formula one. I would get bored and probably die if I retired. If I ever get fired I'll just set up something else."

Ecclestone, whose family holds control of the sport's commercial rights until 2110, has admitted, however, that he is unlikely to find a relation who can take over from him when he is eventually forced to give up.

"Tamara, my eldest is just 19, which is a bit too young to take over from me, he joked in an interview with the Sunday Express. "I'm always keeping my eyes open for entrepreneurs but I think it will be a group of people taking over from me."