Formula 1 Mogul Bernie Ecclestone, 89, and Wife, 44, Expecting First Child Together, a Son
Bernie Ecclestone's baby boy on the way will join his daughters Petra, 31, Tamara, 35, and Deborah, who turns 65 this year
Bernie Ecclestone is going to be a dad for the fourth time.
The former Formula One Group chief executive, 89, and his wife Fabiana Flosi are expecting their first child together, a baby boy, in July, multiple outlets report.
Speaking with U.K. news agency PA Media, Ecclestone said of becoming a dad again, “I don’t see there’s any difference between being 89 and 29,” according to CNN. “You’ve got the same problems I suppose. It’s all right.”
The father-to-be’s baby on the way will be his first son. He’s also dad to daughters Petra, 31, Tamara, 35, and Deborah, who turns 65 this year. The Telegraph reports that Ecclestone has five grandkids and one great-grandchild.
“Tamara is absolutely thrilled for them both,” a rep for Tamara says in a statement to PEOPLE, of her excitement for her dad and stepmother.
Never miss a story — sign up for PEOPLE’s free daily newsletter to stay up-to-date on the best of what PEOPLE has to offer, from juicy celebrity news to compelling human interest stories.
According to The Telegraph, Eccletone went on to say the couple were “in Brazil at the moment, so we have to wait a little while and see whether this little one is going to happen in Brazil or in England” and that he felt like he’d be “a bit more relaxed” as a dad this time around.
“Like all parents, we have only one wish: The child must be born healthy,” added Flosi. “Hopefully he will never express the intention to do something with Formula 1.”
RELATED VIDEO: Mick Jagger to Become a Dad For the Eighth Time
Ecclestone wed Flosi, a Brazilian marketing director, in 2012. He was previously married to Ivy Bamford, with whom he shares Deborah, and Slavica Radic, who is the mother of Tamara and Petra.
Chase Carey replaced Ecclestone in his position at Formula 1 in January 2017, and BBC reported at the time that, going forward, Ecclestone would “act as an adviser to the board” as chairman emeritus.
The British tycoon’s baby news comes three months after burglars allegedly raced off with $67 million worth of jewelry stolen from the mansion of model and TV personality Tamara, who lives near Kensington Palace in London but was away on vacation with her family at the time.