Formula One Group to leave Princes Gate offices

©Instagram

40

The new owners of Formula 1 will relocate from Bernie Ecclestone's current London offices, said CEO Formula One Group Chase Carey.

The historic headquarters of Formula 1, located in the very high-end Knightsbridge at Princes Gate, are simply not big enough to accommodate the company as it seeks to transform Grand Prix racing.

"We will not be able to run the business from Bernie's offices, they are too small," said Carey.

"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 One will still be based in the United Kingdom."

Bernie Ecclestone lives in a modestly-sized penthouse above F1's offices at Princes Gate, a convenient location for him to get to work.

Whether he will choose to remain there, given his sudden retiree status, is uncertain.

True to his working class origins, Bernie still has milk delivered to his doorstep every day.

GALLERY: F1 drivers' wives and girlfriends

Keep up to date with all the F1 news via Facebook and Twitter

Phillip van Osten

Motor racing was a backdrop from the outset in Phillip van Osten's life. Born in Southern California, Phillip grew up with the sights and sounds of fast cars thanks to his father, Dick van Osten, an editor and writer for Auto Speed and Sport and Motor Trend. Phillip's passion for racing grew even more when his family moved to Europe and he became acquainted with the extraordinary world of Grand Prix racing. He was an early contributor to the monthly French F1i Magazine, often providing a historic or business perspective on Formula 1's affairs. In 2012, he co-authored along with fellow journalist Pierre Van Vliet the English-language adaptation of a limited edition book devoted to the great Belgian driver Jacky Ickx. He also authored "The American Legacy in Formula 1", a book which recounts the trials and tribulations of American drivers in Grand Prix racing. Phillip is also a commentator for Belgian broadcaster Be.TV for the US Indycar series.