Jul 29, 2014, 10:05 AM EDT
This Tuesday, Bernie Ecclestone’s in the news for more than just his call for the FIA to scrap standing restarts for 2015.
Media reports out Tuesday including the Deutsche Press-Agentur in Germany, The Times in the UK and Bloomberg, among others, have said the FOM supremo seeks to pay 25 million Euros ($33.6m U.S.) to Bayerische Landesbank in order to settle the corruption case outstanding against him.
Per the Bloomberg report, Ecclestone’s lawyers said the case had become “extremely burdensome” and sought to end the case against Ecclestone. A court spokesperson said via email to Bloomberg that the details would still need to get sorted.
Ecclestone’s in a bit of a no-win situation here as it regards to the corruption case, which has been in the news off-and-on for well over a year.
There’s nothing good from a PR standpoint about saying “we paid our way out” of this case – although Ecclestone probably doesn’t need the distraction anymore as he’d rather tend to the day-to-day job of continuing to run of F1.
Yet the longer the case lingers, the worse his chances are of retaining control of the sport because a decision could come down the pike and could leave Ecclestone set up for jail time as a result of the bribery offered to banker Gerhard Gribkowsky.
Gribkowsky did take the bribe and is now in the middle of serving an eight and a half year sentence.
The most recent story in this case came a couple weeks ago, when Ecclestone offered details of the payment.
Apr 26, 2015, 10:40 AM EDT
Mick wins the third and final race of the first ADAC F4 weekend of the year at Oschersleben in Germany.
Apr 26, 2015, 9:30 AM EDT
45 delegates from the FIA had been attending the first Asia-Pacific Sport Regional Congress in Kathmandu, Nepal, on Saturday.
Apr 26, 2015, 8:30 AM EDT
The Coca-Cola signage isn’t limited to Scott Dixon’s car this weekend.
Apr 25, 2015, 7:11 PM EDT
Second in qualifying a good day at the office for Will Power, as he’s in search of his first win of the year.
Apr 25, 2015, 6:42 PM EDT
Davey Hamilton will have a one-off day back behind the wheel of a current day IndyCar, filling in for Townsend Bell at next week’s IndyCar open test at the Indianapolis Motor Speedway.
Apr 25, 2015, 6:33 PM EDT
Spencer Pigot dominates Indy Lights flag-to-flag in first race of weekend at Barber.
Apr 25, 2015, 5:57 PM EDT
Castroneves bags the pole for IndyCar’s fourth round at Barber.
Apr 25, 2015, 4:30 PM EDT
A surprise in Spain for Rowland as on-track winner Meindert van Buuren is hit with a time penalty for jumping the start.
Apr 25, 2015, 3:15 PM EDT
Audi no. 8 driver pleased with the team’s pace at Silverstone and in the recent test at Paul Ricard.
Apr 25, 2015, 2:33 PM EDT
Power on top in second IndyCar practice at Barber.
Apr 25, 2015, 1:45 PM EDT
Spanish rider was sidelined following the Qatar Grand Prix due to an arm pump injury.
Apr 25, 2015, 12:15 PM EDT
Preview the track that will host the next Formula E race on May 9.
Apr 25, 2015, 11:17 AM EDT
Scott Dixon takes the Coca-Cola car to the top of the first practice session at Barber.
Apr 25, 2015, 11:00 AM EDT
Former F1 world champion and Indy 500 winner hits out at Alonso’s move to McLaren and Manor’s inclusion on the grid.
Apr 25, 2015, 10:12 AM EDT
Qualifying for the Verizon IndyCar Series’ race at Barber has been moved up to 5 p.m. ET, and 4 p.m. CT and local time on NBCSN.
Apr 25, 2015, 9:18 AM EDT
Conor Daly has been confirmed in the Indianapolis 500 in SPM’s third car.
Apr 24, 2015, 9:11 PM EDT
Honda takes the wraps off the new Accord safety car.
Apr 24, 2015, 9:02 PM EDT
Pigot scores his first Indy Lights pole at Barber.
Apr 24, 2015, 6:30 PM EDT
Formula E’s championship leader looks ahead to his adopted home race in Monaco on May 9.
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