F1 supremo Bernie Ecclestone has confirmed Ferrari has the power to veto who is appointed to replace him at the head of the sport.

Ecclestone recently said that Red Bull team principal, Christian Horner would be an 'ideal' figure to replace him when he elects to stand down from his role, with the 40-year-old being a figure who both knows the sport and who could be trusted in the position. The 83-year-old also added he would prefer not to see the role taken up by someone from outside the sport, with the likes of Justin King and Richard Scudamore having also been mentioned as possible successors [see separate story - HERE].

However, Mr E has now explained how Horner came to be touted as a possible successor.

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"Somebody said to me, 'What happens when you go, what's going to happen?'" Ecclestone recounted in an interview with CNN International.

"Christian [then] walked past and I said: 'What about him? He is a good guy.' Firstly [though] CVC would never agree and secondly Ferrari would have a say," Ecclestone added.

The story by CNN International also points out that the power of veto is written in the prospectus for the stalled flotation of F1 on the Singapore stock exchange.

"We must obtain the written consent of Ferrari prior to the appointment of any person as our chief executive officer if, within the past five years, he or she has held a senior executive office or an ownership interest of 5% or more in any Team or automobile manufacturer which either owns more than a 5% interest in a Team or is a supplier of engines to a Team," reads the prospectus.

Ecclestone, however, is keen to stay in control, despite his age and despite the on-going legal cases, which could yet end his reign [see separate story - HERE].

"I'm not going anywhere," Ecclestone concluded.