Reigning world champion Nico Rosberg expressed his belief that "a change has been overdue" after Bernie Ecclestone was finally replaced as Formula One's supremo.

Liberty Media completed an $8billion takeover of the glamorous motorsport competition on Monday, with Ecclestone, who had effectively run the sport for 40 years, moved into an advisory role by the new owners.

The 86-year-old's relationship with Rosberg came under strain in 2015 after Ecclestone claimed the German - a less spectacular driver than some of his rivals - was "bad for business".

But the younger man took the best revenge possible by winning the world championship ahead of Mercedes team-mate Lewis Hamilton in November last year, before announcing his shock retirement five days later.

And the 31-year-old may well have had the final say, posting a message on social media in which he congratulated Ecclestone on his role in popularising F1, but also welcomed the new leadership of incoming chief executive Chase Carey.

"Bernie, mega job! But a change has been overdue," Rosberg tweeted. 

"Mr. Carey, all the best in making our sport awesome again."