Mar.28 (GMM) Another potential successor to F1 chief executive Bernie Ecclestone has counted himself out of the running for the job.



Shortly after Flavio Briatore denied the possibility of replacing 77-year-old Ecclestone when he decides to step down, another of the Briton's closest friends and business partners also played down speculation that he might run formula one in the future.



Alejandro Agag co-owns a GP2 team, is involved in Ecclestone and Briatore's Queens Park Rangers foray, and controls the television rights to formula one in Spain.



But he told Spanish radio Cadena SER: "I see no possibility of replacing Ecclestone, and nor would I fit his shoes.



"I see him as a genius. He turned a group of friends into a true global spectacle that occurs every two weeks," Agag praised.



Some observers and experts, however, insist that Agag, 37, would make a good successor for Ecclestone, also pointing to his experience in the world of politics.



He says Briatore advised him to buy the Spanish TV rights, before 'Alonso-mania' kicked off.



"Nobody wanted them, but Flavio had a blind faith in Fernando and assured me that F1 is going to work in Spain," Agag explains.



He even plays down the media tale about the discord between Briatore and McLaren boss Ron Dennis, recalling a dinner at the recent Malaysian grand prix that was attended by both team chiefs.



Agag says the pair share a "cordial hatred".