Formula 1 CEO and chairman Chase Carey has stressed that Liberty Media is not looking to “claim victory” yet in its bid to improve and expand the sport as its focusing on long-term gains and growth.

Liberty completed its takeover of the F1 Group in January 2017, with Carey being installed as CEO as part of a restructured management team in place of long-standing chief Bernie Ecclestone.

Some criticism has been laid at Liberty’s door for a lack of immediate change in F1 since its takeover, with the bulk of its plans to shake up the sport coming in 2021 when the existing commercial agreement will expire and a new set of technical regulations can be introduced.

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Speaking at the FIA Sport Conference in Manila earlier this week, Carey explained how F1’s new regime was not looking to congratulate itself on any victories yet given its long-term vision and more structured, methodical approach than the previous leadership.

“In all honesty, I think it’s early to say we have ‘wins’. I’ve said before that we’re really at the beginning,” Carey explained.

“One thing that we’ve tried to bring to Formula 1 is more of a long-term focus. I think the sport is probably had an overly short-term deal of the day focus in the past. We’re much more focused on where we’re going to be in three years than where we’re going to be, now 16 months into the change in ownership.

“We’ve got a lot of things going on. We’ve put an organisation in place. We’ve got our priorities underway on-track, as well as things to engage fans live via various platforms and extensions to the sport, geographic extensions.

“They’re really all very much works in progress, which is why I really don’t want to claim, and I’ve specifically said, we’re not trying to at this point, claim victory.

“We’re working hard and we can really do some things to make the sport much more engaging, much more exciting for everyone in it.”

Reflecting on the opening six races of the season, Carey said he had enjoyed the variety of three different teams and drivers taking victories, but hoped to extend this unpredictability under the planned changes for 2021.

“It’s been a good start to the season, we’ve had a mix of drivers and teams competing. We’d like that to continue and make that even broader,” Carey said.

“Jean [Todt] talked about it when he talked about the initiatives that we have underway, looking to 2021 with the teams. I think we want to continue to strive to make sure the sport, the track, provides the excitement, the unpredictable, the underdog winning.

“The competition’s been good. We’ve had some unexpected results. But I still think we can make it bigger, we can make it more exciting, and we can make it more unpredictable.

“I think that’s what makes the sport great for fans. We’re looking forward to the future.”

Additional reporting by Dieter Rencken in Manila.