Bernie Ecclestone and Eddie Jordan have worked together for many years
Ecclestone had been running F1 in one role or another for nearly four decades but the American media giant Liberty completed their takeover of the sport last year.
And the 86-year-old was promptly replaced by former 21st Century Fox executive Chase Carey although Channel 4 pundit Jordan has revealed it may not have been a smooth transition.
When the news broke that Ecclestone had apparently been shifted sideways, Jordan rang his friend to discover he was still in the office.
“They’ve kind of chucked you out haven’t they?’ I said and he replied ‘have they?’,” Jordan told Express Sport.
“That’s what he’s like.
“I’ve known him a very long time and I’m a little bit irreverent to him and he’s a little bit irreverent to me but that’s what makes our friendship work.
“I think he’s probably hurting at the moment.
“The fact that he wasn’t able to leave this planet while still running a Formula One programme will probably hurt him.
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“I hope I’m wrong because I’d like him to retire with his legacy and enjoy the times that he’s got.”
It means when the 2017 season gets underway on Sunday (6am) with the Australian Grand Prix, it will do so under new ownership and new management for the first time in the modern era.
Liberty have already relaxed the previous rules on picture posting on social media from the team garages, a move which delighted fans during testing.
And while the new owners have enjoyed a relatively smooth introduction to F1, Jordan has warned that there will be some resistance to change in the pit lane.
“Life after Bernie is not going to be easy,” Jordan added.
Eddie Jordan is now a pundit and commentator on F1 for Channel 4
“There are a lot of people there who felt he was the best visionary and the best manager of all time.
“But like everything else people have to move over and let someone else have a crack at F1. It’s going to be interesting.
“People are so used to the way Bernie operated, which wasn't always to people’s best pleasure, but he brought a sport from a minority to where it is now.
“He’s made some great money on it but I think he was motivated by power, not money.”
Eddie Jordan spoke to Bernie Ecclestone after he was sacked – and found he wasn't accepting of it
The man in charge of the money, or at least how it is distributed to the teams, under Liberty is Ross Brawn.
The former Ferrari, McLaren and Mercedes pit wall member, who won a shock world title with his team Brawn GP in 2009, is the new motor sport director and is expected to act as the link between the teams and the authorities.
And Jordan, himself a former team owner and principal, was quick to praise the choice.
“What I like about him is he’s approachable but tough,” Jordan said.
“He has a steely grip to him but he’s a motor racing fan.
“I think he’ll make quite a lot of changes.
“He’s very keen to change things sufficiently that a small team could emerge from the back and be an irritant to the big teams.
“At the moment, that could never happen.
“I want to see more of that. Jordan started with 20-something guys and over a period of time we gradually built it up, but retained the core factor that it was a little family business.
“In our best days, we could take it to the big teams.”
***Channel 4 is the home of free-to-air Formula One in the UK with live coverage of 10 Grand Prix this season and comprehensive highlights of every race weekend. You can watch the highlights of the Australian Grand Prix on Channel 4 from 2pm on 26th March. For more information click here***