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Ecclestone will run F1 “the way I’ve always run it”

Nov 12, 2013, 11:00 AM EDT

Formula One commercial supremo Ecclestone walks in the paddock before the Turkish F1 Grand Prix at the Istanbul Park circuit in Istanbul Reuters

A defiant Bernie Ecclestone insisted he will continue to run F1 the way he always has while appearing before the High Court in London, England.

Ecclestone was giving evidence at one of several investigations he currently faces. The case brought by German media company Constantin Medien alleges Ecclestone arranged for F1 to be sold at less than its true value to owners CVC in order to retain his control over the sport.

“I really don’t know what limit anybody could put on my authority,” said Ecclestone. “I shall run the business the way I always have run it, with all the different shareholders that we’ve had, and the different companies, or whatever. And I will continue as I do today.”

Among the revelations to emerge during his four days of cross-examination was a claim that he recently agreed a high-value deal, the details of which are yet to become public.

“I travel the world making business on a hand shake,” said Ecclestone when asked whether he asked the sports’ owners in 2004 to publicly affirm he would not be dismissed. “And all of a sudden I’m no longer in any position to do anything, so who would want to accept my signature on a contract?”

“I’ve just signed a contract now for 600 million-odd with people over the weekend. I can’t do that if people think I’m going to be fired in the morning.”

  1. worknman24hours - Nov 15, 2013 at 12:30 AM

    There are laws in various nations that Formula One has contracts in that will deny any citizen or business based in that country to do business with Formula One if Bernie Ecclestone is convicted in any way of breaking the law as concerns his business dealings.

    Because of the financial cost to those who know actually own and control Formula One, Bernie will be forced to step down so that Formula One’s debtors(shareholders) can sustain the money flow from the cash cow Formula One has been built into.

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