The world has watched the transfer of power from one world leader to another. The Obama administration is out and the Trump Administration is in. The sun set on Obama's Audacity of Hope and rose on Trump's America First.

That same week saw a less reported but arguably only slightly less significant transfer of power, if you are like me a fan of Formula One. Bernie Ecclestone, the holder of the reins of the F1 circus for more than 40 years was replaced as F1 supremo by Chase Carey after the purchase of Formula One was completed last week by Liberty, which also happens to own Virgin Media.

As a Christian, perhaps the key thing that strikes me is how Carey's swift installation and Ecclestone's equally swift removal serves as a reminder that all power is transient, even when it seems absolute. I was reminded of this recently in my weekly team bible reading as we encountered afresh the story of King Herod in Matthew 2. This tyrant king who sought to hold on to power was unexpectedly deposed and became a footnote in the ongoing story of Jesus. 

Personally, I'm glad that Bernie's gone. There's no doubting that Bernie has been good news for Formula One. He's professionalised it and turned it into a multi-billion-pound sport with global reach that stands head and shoulders about all other forms of motorsport. If you're a petrol head like me that's a significant achievement.

However, over the last decade or so Ecclestone has also presided over a period of escalating costs for teams entering the sport, for countries willing to host the races and for consumers who wish to attend the races. It has become common to see races with grandstands that are half empty because local fans can't afford ticket prices.

If you are one of the millions who watch F1 from the sofa rather than the stands you've not been exempt from the rising costs. Up to 2012 F1 was broadcast on terrestrial television. For the last 4 years it has been shared with Sky with most of the live races reserved for Sky. Sky have cannily packaged their F1 channel with their Sky Sports channels. This means that if like me you have little interest in premiership football, you nonetheless need to purchase Sky Sports package in order to access Sky F1. You can tell I'm still bitter about it... ☺ I am therefore unsurprised to learn that viewing figures for F1 have dropped from 600 to above 400 million in the last eight years.

Ecclestone ran F1 as a (sometimes benevolent) dictatorship, encouraged increasing prices and presided over an increasingly profitable organisation (good) which was becoming ever more distant from the grassroots fans (not so good).

All of which is why Chase Carey's arrival is welcome news. No one imagines that F1 under Carey is going to roll back to the clock to halcyon days of past imagination. Nonetheless, new leadership does offer opportunity for new direction.

Let's hope that Carey is indeed able to take F1 in a direction which is as good for fans as for shareholders. I for one will be watching.