The 80-year old entrepreneur has bought out Flavio Briatore and now owns just over 60% of the famous London club.
Ecclestone moved quickly to deny reports that he wanted more control of the club and said he was there to lend support to the great work manager Neil Warnock has done so far this season.
"I now own about 62% of the club," Ecclestone said, "and I am here mainly to support what Neil is doing.
"Neil's the one who tells them how to kick the ball and now we'll see if we can get into the Premier League.
"I have not bought the club because I want to see my name in the papers. I don't need that. It is just something that I enjoy doing."