Flavio Briatore has said that he thinks Formula 1's new owners Liberty Media are doing the right thing to modernise the sport.

Ferrari president Sergio Marchionne has told the Italian press that he is prepared to "fight" for Maranello's interests, as rumours gain speed of simpler engines, limited budgets and standardised parts to close the field in the future.

"I still watch everything," former F1 team boss and Bernie Ecclestone confidante Briatore told Germany's Bild.

"I am especially watching what the new owners are doing differently. It had to happen.

"Ross Brawn called me in the spring and we agreed that the driver should be back in the spotlight and that it should no longer be an engineering world championship.

"It's going in the right direction."

A headline proposal by Liberty Media is a budget cap, with Marchionne declaring that he is prepared to "fight" for Ferrari's interests in imminent forthcoming meetings.

Briatore said that it is actually "high time" F1 introduced a budget cap.

"The fans do not care about the budgets," he insisted.

"I was with Fernando Alonso at the Indy 500 this year where a top car costs $10m (£7.6m) for an entire season. That's a twentieth the cost of F1 but the show is better," Briatore said.

As for Ecclestone's clashes with his successors at Liberty Media, Briatore thinks the 87-year-old's sudden removal as chief executive caught the Briton by surprise.

"It was unpredictable," he said.

"We are old friends and talk almost every day, not only about Formula 1 but also about business and life.

"I assure you that Bernie is doing very well. Better than most people think.

"He enjoys life, works a lot about his coffee plantation in Brazil, and enjoys life with his wonderful wife Fabiana."

The penultimate grand prix of 2017 takes place in Brazil in two weeks' time.