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

Ocon eyes Mercedes seat for 2019 (Friday December 15 2017)

Alonso targets race wins in 2018 (Thursday December 14 2017)

Hamilton and Alonso praise Pirelli (Monday December 11 2017)

All female racing series to support F1? (Wednesday December 6 2017)

Alfa Romeo name returns to F1 (Monday December 4 2017)

Hamilton poor form down to partying (Thursday November 30 2017)

More change in F1, but this one is positive (Wednesday November 29 2017)

Liberty Media alienating F1 fans? (Tuesday November 28 2017)

Blog: Abu Dhabi GP Report (Monday November 27 2017)

2017 Abu Dhabi GP - Race (Sunday November 26 2017)

Blog: Abu Dhabi Qualifying (Saturday November 25 2017)

2017 Abu Dhabi GP - Qualifying (Saturday November 25 2017)

2017 Abu Dhabi GP - FP3 (Saturday November 25 2017)

2017 Abu Dhabi GP - FP2 (Friday November 24 2017)

2017 Abu Dhabi GP - FP1 (Friday November 24 2017)

Expanded calendar for Formula 2 and GP3 (Friday November 24 2017)

Formula One going soft (Thursday November 23 2017)

Blog: Abu Dhabi Preview (Thursday November 23 2017)

Force India name change hits the buffers (Wednesday November 22 2017)

Who will win in Abu Dhabi? (Monday November 20 2017)

Blog: Brazilian GP Report (Tuesday November 14 2017)

2017 Brazil GP - Race (Monday November 13 2017)

Blog: Interlagos Qualifying (Sunday November 12 2017)

2017 Brazil GP - Qualifying (Saturday November 11 2017)

2017 Brazil GP - FP3 (Saturday November 11 2017)

2017 Brazil GP - FP2 (Friday November 10 2017)

2017 Brazil GP - FP1 (Friday November 10 2017)

Blog: Interlagos Preview (Thursday November 9 2017)

Massa announces second retirement (Wednesday November 8 2017)

Hamilton only has eyes for Formula One (Tuesday November 7 2017)

Who will win in Brazil? (Monday November 6 2017)

Hamilton stamping his name into history (Thursday November 2 2017)

Lauda confused by aggressive Vettel (Thursday November 2 2017)

Alonso set for Daytona (Tuesday October 31 2017)

Blog: Mexican GP Report (Monday October 30 2017)

2017 Mexico GP - Race (Sunday October 29 2017)

LEWIS HAMILTON 4-TIME WORLD CHAMPION (Sunday October 29 2017)

Blog: Mexico City Qualifying (Sunday October 29 2017)

2017 Mexico GP - Qualifying (Saturday October 28 2017)

2017 Mexico GP - FP3 (Saturday October 28 2017)

2017 Mexico GP - FP2 (Saturday October 28 2017)

2017 Mexico GP - FP1 (Saturday October 28 2017)

Ricciardo to join Mercedes? (Thursday October 26 2017)

Blog: Mexico City Preview (Thursday October 26 2017)

Shock as Verstappen signs new deal (Wednesday October 25 2017)

Alonso agrees new partnership deal (Tuesday October 24 2017)

Who will win the Mexico Grand Prix? (Tuesday October 24 2017)

Blog: US GP Report (Tuesday October 24 2017)

2017 United States GP - Race (Monday October 23 2017)

Blog: Austin Qualifying (Sunday October 22 2017)

2017 United States GP - Qualifying (Sunday October 22 2017)

2017 United States GP - FP3 (Saturday October 21 2017)

2017 United States GP - FP2 (Saturday October 21 2017)

2017 United States GP - FP1 (Friday October 20 2017)

Who will win in the USA? (Thursday October 19 2017)

Blog: Austin Preview (Thursday October 19 2017)

Sauber to make huge step forward in 2018 (Wednesday October 18 2017)

Formula One wants race in Netherlands (Tuesday October 17 2017)

Toro Rosso name fourth driver of 2017 (Monday October 16 2017)

Palmer F1 career ends? (Tuesday October 10 2017)

Blog: Japanese GP Report (Monday October 9 2017)

2017 Japan GP - Race (Sunday October 8 2017)

Blog: Suzuka Qualifying (Saturday October 7 2017)

2017 Japan GP - Qualifying (Saturday October 7 2017)

2017 Japan GP - FP3 (Saturday October 7 2017)

2017 Japan GP - FP2 (Friday October 6 2017)

2017 Japan GP - FP1 (Friday October 6 2017)

Blog: Suzuka Preview (Thursday October 5 2017)

Who will win in Japan? (Tuesday October 3 2017)

More woe for Ferrari (Monday October 2 2017)

2017 Malaysia GP - Race (Sunday October 1 2017)

Blog: Sepang Qualifying (Saturday September 30 2017)

2017 Malaysia GP - Qualifying (Saturday September 30 2017)

2017 Malaysia GP - FP3 (Saturday September 30 2017)

2017 Malaysia GP - FP2 (Friday September 29 2017)

2017 Malaysia GP - FP1 (Friday September 29 2017)

Blog: Sepang Preview (Thursday September 28 2017)

New deals for Mercedes and Force India (Wednesday September 27 2017)

Leclerc lands F1 seat (Tuesday September 26 2017)

Who will win in Malaysia? (Monday September 25 2017)

A messy McLaren Honda divorce (Thursday September 21 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 1187
2. Red5 1129
3. The Fear 773
4. Villaininthemerde 612
5. johnkelv 601
6. Druss_the_Legend 596
7. Push The Button 513
8. col8 334
9. The Intimidator 221
10. VanGisbergen2013 182

Current Site Poll (view all polls)

Which team will produce the 2018 Champion?
Mercedes 32%
Ferrari 38%
Red Bull 19%
McLaren 11%
Renault 0%
Someone else 0%