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Ecclestone will still run F1 during bribery trial

Jan 16, 2014, 9:34 AM EDT

F1 Grand Prix of Germany - Qualifying Getty Images

During his upcoming bribery trial, Formula One Management CEO Bernie Ecclestone will still run F1, but has revealed he will step down from the board of directors of F1’s holding company.

The trial begins in April, as was determined by a Munich, Germany state court earlier on Thursday. Ecclestone was indicted in July for an alleged $44m bribe to jailed banker Gerhard Gribkowsky eight years ago.

A statement from the board said Ecclestone reassured it that he is “innocent of the charges and intends to vigorously defend the case,” but stepping down was necessary because the board “believes that it is in the best interests of both the F1 business and the sport that Mr. Ecclestone should continue to run the business on a day-to-day basis, but subject to increased monitoring and control.”

CVC Capital Partners, the owners of F1, said in November it was prepared to fire Ecclestone if he was found guilty of any charges, and said in July it could look outside F1 for a replacement. Other Ecclestone-related stories from the last few months or so are linked below:

  • Nov. 13: Ecclestone denies latest trial is bad for F1’s image
  • Nov. 12: Ecclestone will run F1 “the way I’ve always run it”
  • Oct. 30: Ecclestone faces new investigation as High Court trial begins

  1. edpeters101 - Jan 17, 2014 at 12:07 PM

    Reminds me of Nixon.. “I am not a crook.”!

  2. mogogo1 - Jan 17, 2014 at 1:31 PM

    One of the true scumbags of the sports world. He must have plenty of pictures of plenty of people to still have his job. Forget the bribery…how’d he keep his job after his sympathetic comments about Hitler?

  3. worknman24hours - Jan 18, 2014 at 1:08 PM

    None of us has run a worldwide entertainment auto racing series here.

    None of us has had to deal with the financial and world leaders of so many nations as Bernie has worldwide and done such a great job of doing that.

    The fact is that money often runs behind the scenes to get things done.

    Bernie hasn’t been secretive about what happened or why and how it happened.

    He’s been above board about the facts that it was not Bernie who mandated the money flow where and how it had to flow to get the series where it is today.

    So I wish Bernie great luck in his current legal issues.

    When you are the Top Dog in anything as long as Bernie has been, there are always many little dogs trying to pull you down.

    Great Luck to you,Top Dog.

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