December 7, 2010 / 6:52 PM / 8 years ago

Allsport boss Patrick McNally to retire

LONDON (Reuters) - Patrick McNally, a long-time associate of Formula One supremo Bernie Ecclestone, will retire next year from the helm of the company that runs the sport’s trackside advertising and corporate hospitality.

Allsport Management said in a statement on Tuesday that David Campbell, the current chief executive of AEG Europe who helped transform London’s Millennium Dome into the commercially successful 02 Arena, will join in the first quarter of 2011.

Some media reports suggested that Campbell, a former boss of Virgin Radio, could be a contender to take over one day from 80-year-old Ecclestone.

Swiss-based Allsport, bought by Formula One rights holders CVC in 2006, manages commercial marketing rights for Ecclestone’s Formula One Group as well as running the ‘Paddock Club’ for teams and sponsors.

Irish-born McNally, who founded Allsport 27 years ago and has an estimated fortune of 562 million pounds according to this year’s Sunday Times rich list, will continue to be involved in a non-executive capacity.

Reporting by Alan Baldwin, editing by Ken Ferris

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