Vital F1 | Ecclestone steps down
Vital Login
Social Login

Other Sites

Network Navigation

Vital Partners

'If It's F1, It's Vital'

Ecclestone steps down

Formula One supremo Bernie Ecclestone is set to step down as director of Formula One's holding company pending the outcome of the bribery trial in Germany.

News that the 83-year-old was set to face a bribery trial in Germany came on Thursday morning.

Ecclestone has previously been questioned as part of a police investigation into a multi-million pound bribery scandal and has been accused of entering into a 'corrupt agreement' with German banker Gerhard Gribkowsky.

The case which is in direct relation to Formula One's sale to private equity firm CVC back in 2006 has already seen Gerhard Gribkowsky jailed for more than eight years for tax evasion, breach of trust and taking £28 million in bribes during the sale of F1, following a trial in Germany.

Gribkowsky, who at the time was overseeing the sale of BayernLB's stake in F1 had been accused of selling a 48% stake in Formula One without legal valuations while receiving an apparent $50million bribe disguised via consultancy agreements.

That sale according to Media company Constantin Medien cost the company millions as they had been set to receive 10% if the stake in the company had sold for more than $1.1billion, but received nothing as CVC only paid $814million.

Constantin Medien is now suing Ecclestone for $140million [the original claim had been $171million].

Bernie has previously claimed the legal action lacked merit and he and his co-defendants deny the claims of wrongdoing.

Sky Sports News have reported that he will continue running the day-to-day business of F1.








Join Vital F1

It's easy to join up and join in on VitalF1.com, simply click the link and enjoy getting involved!

If you are already a member of Vital Football, your logins will automatically work on VitalF1.com!

The Journalist

Writer: Red5 Mail feedback, articles or suggestions

Date:Thursday January 16 2014

Time: 1:57PM

Your Comments

If Bernie does time I will saw off my left naka. It will be business as usual with Bernie still pulling the strings.
johnkelv
 

Have Your Say

Log in...
with your social network     OR     with your Vital account

Recent Vital F1 Articles

Is Formula E a threat to Formula One? (Wednesday August 16 2017)

F1 to introduce standardised parts? (Monday August 14 2017)

Sainz fake news (Saturday August 12 2017)

Hungaroring set for revamp (Wednesday August 9 2017)

Drivers mixed on Halo introduction (Monday August 7 2017)

Sauber ditch Honda for Ferrari (Thursday August 3 2017)

Blog: Hungarian GP Report (Wednesday August 2 2017)

2017 Hungarian GP - Race (Sunday July 30 2017)

2017 Hungarian GP - Qualifying (Saturday July 29 2017)

2017 Hungarian GP - FP3 (Saturday July 29 2017)

2017 Hungarian GP - FP2 (Friday July 28 2017)

2017 Hungarian GP - FP1 (Friday July 28 2017)

Halo will debut in F1 in 2018 (Friday July 28 2017)

Blog: Hungaroring Preview (Thursday July 27 2017)

Cosworth to return to Formula One? (Wednesday July 26 2017)

Who will win in Hungary (Monday July 24 2017)

Sympathy for Kvyat? (Thursday July 20 2017)

Vettel plays down Silverstone swing (Wednesday July 19 2017)

Hamiltonís takeover (Tuesday July 18 2017)

Blog: British GP Report (Monday July 17 2017)

2017 British GP - Race (Sunday July 16 2017)

Blog: Silverstone Qualifying (Sunday July 16 2017)

2017 British GP - Qualifying (Sunday July 16 2017)

2017 British GP - FP3 (Sunday July 16 2017)

2017 British GP - FP2 (Friday July 14 2017)

2017 British GP - FP1 (Friday July 14 2017)

Who will win the British Grand Prix? (Thursday July 13 2017)

Blog: Silverstone Preview (Wednesday July 12 2017)

Blog: Austrian GP Report (Monday July 10 2017)

2017 Austria GP - Race (Sunday July 9 2017)

Blog: Red Bull Ring Qualifying (Saturday July 8 2017)

2017 Austria GP - Qualifying (Saturday July 8 2017)

2017 Austria GP - FP3 (Saturday July 8 2017)

2017 Austria GP - FP2 (Friday July 7 2017)

2017 Austrian GP - FP1 (Friday July 7 2017)

Blog: Red Bull Ring Preview (Thursday July 6 2017)

Hulkenberg sets sights on 2018 (Wednesday July 5 2017)

Who will win in Austria? (Monday July 3 2017)

The Force is not with India (Thursday June 29 2017)

Lauda and Wolff on Vettel (Wednesday June 28 2017)

Hamilton and Ricciardo slam Vettel (Tuesday June 27 2017)

Blog: Azerbaijan GP Report (Monday June 26 2017)

2017 Azerbaijan GP - Race (Sunday June 25 2017)

Blog: Baku Qualifying (Saturday June 24 2017)

2017 Azerbaijan GP - Qualifying (Saturday June 24 2017)

2017 Azerbaijan GP - FP3 (Saturday June 24 2017)

2017 Azerbaijan GP - FP2 (Friday June 23 2017)

2017 Azerbaijan GP - FP1 (Friday June 23 2017)

Blog: Baku Preview (Thursday June 22 2017)

F1 too boring for Malaysia (Wednesday June 21 2017)

Who will win in Baku? (Monday June 19 2017)

Kvyat rant at 'circus' stewarding (Thursday June 15 2017)

Merc hit Ferrari with heavy blow (Tuesday June 13 2017)

Blog: Canadian GP Report (Monday June 12 2017)

2017 Canada GP - Race (Sunday June 11 2017)

Blog: Montreal Qualifying (Sunday June 11 2017)

2017 Canada GP - Qualifying (Saturday June 10 2017)

2017 Canada GP - FP3 (Saturday June 10 2017)

2017 Canada GP - FP2 (Friday June 9 2017)

2017 Canada GP - FP1 (Friday June 9 2017)

Formula One season set to expand (Thursday June 8 2017)

Blog: Montreal Preview (Tuesday June 6 2017)

Who will win in Canada? (Monday June 5 2017)

Youngster set to return to F1 (Friday June 2 2017)

Mercedes war with Ferrari not over (Wednesday May 31 2017)

All talk on Ferrari (Tuesday May 30 2017)

Blog: Monaco GP Report (Monday May 29 2017)

2017 Monaco GP - Race (Sunday May 28 2017)

Blog: Monaco Qualifying (Saturday May 27 2017)

2017 Monaco GP - Qualifying (Saturday May 27 2017)

2017 Monaco GP - FP3 (Saturday May 27 2017)

2017 Monaco GP - FP2 (Thursday May 25 2017)

2017 Monaco GP - FP1 (Thursday May 25 2017)

Blog: Monaco Preview (Wednesday May 24 2017)

Who will win in Monaco? (Monday May 22 2017)

Archived Vital F1 Articles

List All Vital F1 Articles
Have your say
Click here to suggest an article
Click here to suggest a poll

Vital Members League (view all)

1. DJ 1160
2. Red5 1120
3. The Fear 773
4. Villaininthemerde 612
5. johnkelv 601
6. Druss_the_Legend 590
7. Push The Button 503
8. col8 334
9. The Intimidator 211
10. VanGisbergen2013 168

Current Site Poll (view all polls)

Was Hamilton right to move over for Bottas?
No 9%
Yes - It was a team order 30%
Yes - But naive team order 61%