LONDON, Jan 27 (Reuters) - Former chief executive Bernie Ecclestone has dismissed speculation that he could set up a rival series to Formula One and said he would never want to undermine the existing championship.
In a statement to Reuters on Friday, the 86-year-old Briton said he wished to clear up rumours that spread after he was replaced at the helm by American Chase Carey on Monday.
"I have built the championship over the last near 50 years, which is something I am proud of, and the last thing I want is to see it damaged," he said.
Ecclestone said he hoped fans appreciated that Formula One's new owners Liberty Media (NASDAQ:FWONA), who completed their takeover on Monday, intended to put money back into the sport.