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.
May 29, 2015, 12:35 AM EDT
Larry Dixon is making up for lost time – in VERY fast way, that is – as in the neighborhood of 320-plus mph and less than four seconds.
May 28, 2015, 11:05 PM EDT
Sarah Cornett-Ching is opening a lot of eyes in the ARCA Series this season.
May 28, 2015, 8:59 PM EDT
Here’s the field for this year’s Red Bull GRC season opener in Ft. Lauderdale.
May 28, 2015, 8:31 PM EDT
Taylor Swift on an IndyCar? Believe it.
May 28, 2015, 6:49 PM EDT
With the completion of the Kansas Nationals this past Sunday, the NHRA Mello Yello Drag Racing Series has reached the one-third point of the 2015 season.
May 28, 2015, 4:30 PM EDT
Ex-F1 driver ponders whether Hamilton’s trust in Mercedes may have taken a hit after his Monaco defeat.
May 28, 2015, 3:23 PM EDT
FIA looking for more teams to join the sport in the next two seasons.
May 28, 2015, 3:00 PM EDT
After Williams recorded its first non-score since Brazil 2013 in Monaco, Bottas is sure that the team will respond in Montreal next weekend.
May 28, 2015, 1:30 PM EDT
25 years on from Mark Blundell’s pole position at Le Mans, Nissan pays homage with a retro livery on its third car for the race.
May 28, 2015, 11:30 AM EDT
Alan Permane claims the data on Grosjean’s car shows he did not brake-test Verstappen and cause their crash in Monaco last Sunday.
May 28, 2015, 10:30 AM EDT
FIA president responds to calls for a stricter policy on alcohol sponsorship in F1.
May 28, 2015, 9:45 AM EDT
Andreas Bakkerud will fill in for Piquet while he’s on Formula E duty in Russia.
May 28, 2015, 9:00 AM EDT
Mercedes team boss Toto Wolff took part in a Twitter Q&A earlier this week.
May 28, 2015, 8:30 AM EDT
Two-time series champion looks ahead to a big year in Red Bull GRC with Volkswagen Andretti Rallycross.
May 28, 2015, 8:00 AM EDT
Gossage and Walker are in contact about how to best move forward with super speedway aero kits ahead of June 6 IndyCar race.
May 28, 2015, 7:30 AM EDT
No. 63 driver tops $61,000 raised for Susan G. Komen this month.
May 27, 2015, 4:57 PM EDT
The last seven races held in Detroit have been won by a different driver.
May 27, 2015, 4:17 PM EDT
Penalties doled out after the Indy 500, most notably to the No. 19 and 98 teams for pit incidents.
May 27, 2015, 2:08 PM EDT
Gonzalez returns to No. 18 car after running it in the Grand Prix of Alabama.
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