Carey has been publicly quiet since Liberty bought the first tranche of its shareholding in September, but he has spent the time getting to know what the company that employed him has bought.
His findings were:
The revenue system is skewed in favour of the already rich and powerful, to the extent that the smallest teams are struggling to survive and money is tight for about half the grid
There is a lack of competition on track
Television audience figures are dropping in many markets - although this is largely because of a switch to pay television, to make more money from TV rights deals
The longest-standing races are struggling to fund themselves and risk dropping off the calendar
The decision-making process is not working properly
Some significant business and sporting decisions have been made for solely financial reasons, disregarding other important factors, such as their effects on the sporting side
An acceptance that F1 has lost some of its appeal, particularly a sense of edge and drama and as an extreme driver challenge