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[LRW]

The End is Nigh...?

Bernie Ecclestone steps down from F1 board pending bribery trial

Bernie Ecclestone has stepped down from the board of the company which runs Formula 1 following his indictment on bribery charges in Germany.
But the 83-year-old will continue to run the business on a day-to-day basis, Delta Topco said in a statement.

Ecclestone will go on trial to face allegations he bribed a German banker who is serving a jail sentence for receiving the payment.

The decision means that, to some degree, nothing changes for now. In reality, though, Ecclestone's impending trial on bribery charges has the potential to be a game-changer on a massive scale.

If he is found guilty of paying a bribe - and the German courts have already convicted former banker Gerhard Gribkowsky of taking it - Ecclestone cannot possibly continue in his job.

No-one will say it for now because of Ecclestone's authority and power, but the reality is that all the sport's bosses - from those at Delta Topco, through main shareholder CVC Capital Partners, to those at the teams - know they have to take finding a potential replacement for Ecclestone very seriously indeed.

He admits paying Gerhard Gribkowsky, but denies bribery.

The board of Delta Topco met on Thursday and were told by Ecclestone that he intends to vigorously defend the case, which will commence in late April.
A statement read: "After discussion with the board, Mr Ecclestone has proposed and the board has agreed that until the case has been concluded, he will step down as a director with immediate effect, thereby relinquishing his board duties and responsibilities until the case has been resolved.

"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 by the board.

"Mr Ecclestone has agreed to these arrangements."

[LiamCatterson]

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA

LOOOOOOOOOOOOOOOOOOOOOOOOOOOL

Even though that he made sure F1 exist today, this is a great day for MOST people

[LRW]

Well he hasnt actually gone yet- will still run F1 - just stepped down from the board.

But I cant see him getting off scott free from ALL the trials. So I reckon, by the end of this, maybe next season, he will be gone.

[LiamCatterson]

Well he hasnt actually gone yet- will still run F1 - just stepped down from the board.

But I cant see him getting off scott free from ALL the trials. So I reckon, by the end of this, maybe next season, he will be gone.

Yeah, it seems a lot of people will see him gone soon. I agree, it looks like he'll be screwed when the time comes. He ain't going to survive in F1 for long though

[What's Burning?]

Morality in F1 runs on a different space time, one where Flavio Briatore doesn't lose sleep at night, so I think Bernie is sleeping like a baby, diapers and all.

[sagi58]

Everything comes to an end.

It's time F1 comes out of the dark and a board of directors
is put into place, as with all large endeavours!!

[What's Burning?]

If my Highschool German is not too rusty, I think this says, whichever circuit Bernie buys, will get to host Germany's F1 race, the other well, we will soon have an Austrian GP.

ESPNF1 Bernie Ecclestone has confirmed he has made an offer to buy the Nurburgring circuit.

The Nurburgring has been in financial difficulties for many years, with the company that currently owns the circuit in administration and the track up for sale. At present the German Grand Prix alternates between Hockenheim and the Nurburgring, but with the latter's future uncertain Ecclestone has put in a bid to purchase it.

"We have made an offer and now we wait to learn whether it will be accepted," Ecclesstone told German press. "We believe that we can do more for the race track than anyone else. An agreement could be reached as soon as the next few weeks."

However, Ecclestone warned he would not enter in to a bidding war against other potential buyers and that he is focused on cementing Germany's place on the calendar.

"[If the offer is rejected] we would talk to Hockenheim. We want to make sure there is a Formula One race in Germany every year in the future. There are one or two other interested parties. But we will only pay what we believe the Nurburgring is worth."

However, Ecclestone made it clear that even if he were to own the Nurburgring he would like the current alternation agreement between the two circuits to remain in place.

[CookinFlat6]

I think the big big issue for Bernie is not spending time in a cushy jail, or even leaving the executive side, its what would come next if he gets convicted.

There will be a queue a mile long waiting to have his arm off financially, and no matter how cleverly he has hidden his money, in the post 9/11 'hidden money = terrorism' bullying of the usual capital flight environments, some of them will come looking with various agencies on their side.

Once/if he gets confirmed as a crook, there could be lots of unravelling and old cases and old enemies, suddenly deciding they got screwed along the line

If his Bambino gets implicated that could be grabbed and frozen

Let hope Tamara finds a rich boyfriend quick

[What's Burning?]

Life in prison... in other words, six months.

[CookinFlat6]

And allowed to go home on weekends

[racechick]

Oh joy! Bernie gone, Ron back F1 is looking up!!

[CookinFlat6]

Is it just old cynical me, but does anyone else see a certain juxapositioning of

Bernie to face trial in Germany

and

Bernie to buy a track in Germany to make sure Germany always remains on the calender

I accept that when it rains people do get wet, but if a guy pees on your back and tells you its raining you should be able to protest, surely?

edit: I realise the above allegory might be a bit abstract, and I am not saying he will suddenly get found innocent or even that anything untoward is in the air, but surely its enough to make some journalist mention it

[1Lemon]

According to SKY news, the mini-man who struggles to cope with revolving doors is stepping down!!!!

https://twitter.com/SkyNewsBreak/status/423808581612634112

Edit: Thanks to Jabber I am now enlightened about this already being a thread

So can I just say, Mr. E was the right man to get F1 on track and to make it the mega sport it is/was in the 90's early 00's but he's gone too far and bled it try and is almost pulling it back down; we need a new head honcho.

Edit Edit: ROSS BRAWN to replace Ecclestone?

[deMuRe]

Ross Brawn to Run Red Bull and form a Brawn/Newey Super Team, Christian Horner to replace Bernie...

[Jabberwocky]

Our Ross to take over from Bernie. That would make an amazing book. Starts as a low level machinist end up running the sport.

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