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.
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.
A Lamborghini Aventador owned by socialite Tamara Ecclestone has disappeared from a garage in London where it was being serviced. The daughter of billionaire Formula One CEO Bernie Ecclestone reportedly purchased the car a couple of years ago from a dealer named Ziad Shawadi when she was dating businessman Omar Khyami. The supercar was put under Omar's name to secure a resident's parking permit, but it was registered to her Chelsea, London, address.
While every team on the Formula One grid is worried about making a good showing in this year's championship at the same time as they develop a brand-new car for next year's championship, Bernie Ecclestone and F1 circuit promoters have a different concern: how next year's cars will sound. The current cars use 2.4-liter, naturally-aspirated V8s that can reach 18,000 revolutions per minute and employ dual exhaust, next year's engine formula calls for 1.6-liter turbocharged V6s that are capped at 15
Bernie Ecclestone is reportedly interested in adding more American Formula One races to the sport's schedule. The CEO was quoted as saying "America is about as big as Europe. So we should have the same number of races [in each]." Since next season will see a total of seven events on European soil, it would seem to indicate Ecclestone is keen to swell the number of American races significantly. The 2013 season was supposed to see US competitions with teams stopping in Austin, Texas at the new Cir
Formula One boss Bernie Ecclestone is unhappy with his series' proposed engine change. SPEED is reporting that Ecclestone believes the introduction of the turbocharged V6 mill should be postponed or even dropped altogether.
Another day, another drama with Bernie Ecclestone at the center. This time, it appears that the the Formula One CEO and the series' top brass have "torn up" the contract for New Jersey's Grand Prix of America. In a new report from The Guardian, Ecclestone claims that the race's organizers have missed deadlines, leading to the scrapping of the race.
The government of the German state of Rhineland-Palatinate is set to make hundreds of million of euros available to the Nürburgring. This will guarantee that a loan be partially paid, making it possible for the Nürburgring to continue to operate.
Bernie Ecclestone was apparently quite serious when he said he would "do everything" to save the troubled Nürburgring. In fact, according to a new report from Bloomberg Businessweek, the megalomaniacal Formula One boss might just buy the track outright. That'd certainly be a quick answer to the 'Ring's financial troubles.
Formula One CEO Bernie Ecclestone should expect Germany to file charges against the executive over his alleged bribery of former banker Gerhard Gribkowsky. That's according to Autoweek, which notes Gribkowsky oversaw the sale of BayernLB's stake in the racing series back in 2006 to CVC Capital Partners, which now holds F1's controlling interest.
The BBC reports a former banker has testified to receiving $44 million in bribes from Formula One CEO Bernie Ecclestone. Gerhard Gribkowsky, the former deputy chief of regional bank Bayern Landesbank, testified in exchanged for a reduced sentence in the case against him. Gribkowsky faced up to 15 years in prison on charges of corruption and abuse of trust. Prosecutors agreed to reduce his maximum penalty to nine years behind bars in exchange for his testimony. Gribkowsky was in charge of the sal
It may be a while before Bernie Ecclestone is successful in his plans to float Formula One on the Singapore Stock Exchange, but that doesn't mean that he and his employers at CVC Capital Partners can't begin selling off chunks of their business.
It is exceptionally rare for Bernie Ecclestone to be shown the yellow flag when it comes to his Formula One business dealings, but that's what happened with two of his projects. A month ago, Ecclestone agreed to terms with France's sports minister David Douillet to reinstate the French Grand Prix at the Paul Ricard circuit (which Ecclestone happens to own). The contract hadn't been signed while minor details were settled, but the plan was that the French GP would alternate with the Belgian GP st
Ever get the feeling that not every grand prix on the Formula One calendar should be worth as much as every other? Aside from the bragging points that go with winning a race like, say, the Monaco Grand Prix, maybe the most prominent races should be worth more championship points, too? So says Bernie Ecclestone, according to the latest reports.
After years of doing without a grand prix in the United States altogether, Formula One is gearing up to return to these shores in a big way. The United States Grand Prix is set to take place later this year at the newly constructed Circuit of the Americas in Austin, Texas. And next year, the Grand Prix of America is scheduled to join the calendar in New Jersey, just across the river from Manhattan. But will the Jersey race be ready in time?
Formula One has many homes: the Formula One Management company that controls its commercial aspects is based in London, the FIA that governs its sporting aspects is based in Paris, and you'd certainly have a point to make if you asserted its spiritual home was in Monaco. But none of these places are where its stakeholders are looking to float its Initial Public Offering. No, that place is Singapore.
Protesters in Bahrain continue to push for democratic reforms in the country, and police have stepped up a brutal crackdown ahead of the upcoming Formula One Bahrain Grand Prix. Last year, unrest forced F1 to cancel the race, but Bernie Ecclestone, president and CEO of the series, has said that won't happen in 2012. Protestors have turned their ire against F1 organizers, saying the race belittles the strife and sacrifices of those working toward democracy. In an attempt to quell the demonstratio
Formula One may, to outsiders, seem like a monolith, but it is in fact a gathering of rather disparate parties. There's the FIA which governs the series from a sporting standpoint, there's the collective of teams competing in the series, and Formula One Management, the company that holds the sport's commercial rights under the direction of one Bernie Ecclestone. The only way they all get along is through the terms of the Concorde Agreement – the contract that divides up the spoils, namely