A member of European Parliament has written to the European Commission, asking it to review the FIA and how the small teams in the sport are treated. The FIA appears to have breached an agreement it made with European regulators in 2001, and the F1 Strategy Group is accused of running teams and support companies out of business.
Formula One supremo Bernie Ecclestone is now poking fun at the settlement he made with the state of Bavaria following his bribery trial earlier this year. His chosen avenue for this jest? A Christmas card.
To the casual observer, it would seem at least likely that F1 is owned by the FIA. It is, after all, known as the FIA Formula One World Championship. But in actuality, as far as the commercial rights are concerned, the sport is effectively owned by an intricate web of investment companies. But now the FIA has taken back at least a small part of it.
Octogenarian billionaire, briber and Bond villain caricature Bernie Ecclestone is not popular with the fans of the sport he oversees with an iron fist, and somehow, we don't think that's set to change after the 84-year-old gave a pretty wide-ranging interview with Campaign Asia-Pacific.
"There's a million countries that would like to have an F1 race," said the sport's commercial director Bernie Ecclestone to The Independent recently, "but they can't afford it." Las Vegas wouldn't fall into the latter category, but while not exactly a country unto itself, it is apparently at the top of the former list.
At times, it seems all too easy to imagine Formula One bigwig Bernie Ecclestone holding a cat and laughing maniacally like a James Bond villain. He just seems like a horrible person to be on the wrong side of. Now that Ecclestone has put his bribery trial in Germany behind him, his enemies had better watch out because Bernie is scheming for revenge.
Formula One bigwig Bernie Ecclestone has opened his wallet to finally put an end to his trial for alleged bribery in Germany. According to Britain's The Telegraph citing the Süddeutsche Zeitung, the controversial racing magnate offered a 60 million pound- ($100 million-) settlement to put the case behind him. Deutsche Welle is reporting that state prosecutors have accepted the deal. Ecclestone had initially proposed $25 million to take care of things and later increased the price further.
It appears that the rumored shuffle in the Formula One calendar next season may actually happen. F1 supremo Bernie Ecclestone says that there will be no Korean Grand Prix again next year, but it will be replaced by a race in Azerbaijan.
If you're one of the legions of racing fans disappointed by the lack of noise from the new turbo V6s in Formula One and nostalgic for those old-school V10s, we have good news for you. According to reports, a new racing series is in the works that would bring back not only retired F1 cars, but also retired F1 stars.
Roughly 18 months after going bankrupt, being put up for sale (which prompted rumors that Formula 1 supremo Bernie Ecclestone would buy it), the Nürburgring is finally very close to having a new owner. While the final contracts reportedly aren't signed yet, German business magazine Wirtschaftswoche indicates that American investment group HIG Capital, British investor Meyrick Cox and a German named Markus Graf Oeynhausen-Sierstorpff are buying the track for 60 million to 70 million euros ($
The nearly year-long process to sell the Nürburgring has reportedly entered its final phases, with the historic track's liquidators closing bids on the track on February 17, according to the Rhein Zeitung newspaper. Interestingly, Formula One boss Bernie Ecclestone is rumored not to be among the bidders, despite previous news to the contrary.
Bernie Ecclestone has officially stepped down from his position on the board of directors of the Formula One empire, following an announcement that he faces a trial in a German court for bribery. According to a report from Autoweek, Ecclestone will retain his day-to-day responsibilities within F1.
To say that Opus makes books is like saying Bugatti makes cars. Sure, it's true, in the strictest literal sense, but it hardly does it justice. Opus makes tomes, high-end luxury albums in tribute to icons of sport and culture. Its past editions have focused on sports franchises like Arsenal, the Boston Celtics and the Superbowl itself. Opus has profiled Ferrari, and, of course, they've done one on Formula One.
It's come out that Bernie Ecclestone, the chief executive of Formula One, paid three team principals - Eddie Jordan, Alain Prost and the late Tom Walkinshaw - $10 million each to sign the 1998 Concorde Agreement. Concorde being a commercial rights agreement that governs the split of monies generated by the sport between the FIA, the teams and the Formula One Administration. This is yet another blow in Ecclestone's on-going trial over bribery charges to a German banker, although the English billi
The Formula One documentary 1 was first shown in Austin last year in advance of the inaugural US Grand Prix. Speaking to more F1 personalities than have ever been put in one film together, from John Surtees, Jackie Stewart and Jacky Ickx to Sebastian Vettel, Max Mosley and Martin Brundle, and produced by an award-winning crew of documentary makers, 1 focuses on the sport's safety and how it has moved on from the deadly game of the sixties and seventies to a far safer endeavor today.
The United States of America will not be getting a second Formula One race next year. The troubled Grand Prix of America, which was slated to run on a street circuit on the shores of the Hudson river and in the shadow of the New York City skyline has been shelved, following the failure of the race's organizers to come up with the requisite $100 million in funds demanded by F1's tempestuous maestro, Bernie Ecclestone. The problematic Grand Prix was already pushed back once, from the 2013 season t
BBC Sport is reporting that Bernie Ecclestone, Formula One boss and indicted briber, has said the Indian Grand Prix will "probably not" happen in 2014. The race, which takes place at the purpose-built Buddh International Circuit, is in danger due to a combination of reasons, including Ecclestone's desire to move India from its current slot in October to the beginning of the season, in March or April.
Bernie Ecclestone, the elderly head of Formula One, has been indicted by German courts on charges of bribery. This follows reports that had the UK citizen in trouble over payments to Gerhard Gribkowsky, a former German banker with Bayern Landesbank.
Controversial Formula One boss Bernie Ecclestone is facing bribery charges from German prosecutors. The long-rumored indictments stem from the 2006 sale of the racing series from Germany's Bayern LB bank to CVC Capital partners. The charge could result in Ecclestone facing jail time and losing his iron grip on the F1 series.