Original sentence: He is the former chief executive of the Formula One Group, which  manages Formula One and controls the commercial rights to the sport, and part-owns Delta Topco, the previous ultimate parent company of the Formula One Group
Edited sentence: Originally known for his limited racing career and ownership of Brabham, he is now widely known for being the former chief executive of the Formula One Group, which manages Formula One and controls the commercial rights to the sport, and part-owning Delta Topco, the previous ultimate parent company of the Formula One Group