Formula 1

Bernie Ecclestone steps down from F1 board

Published Add your comment

Football News
24/7

Bernie Ecclestone has stepped down from the Formula One Group as he is set to go on trial for bribery charges in Germany.

Ecclestone, who has governed Formula 1 for over thirty years, has been prosecuted over his paying £27million to banker Gerhard Gribkowsky, who is serving a jail sentence for taking the money from him.

Ecclestone admits paying him the money but claims that he paid Gribkowsky as a way of avoiding a UK tax enquiry, not bribery.

The trial will commence in April, and Ecclestone has stepped down from the F1 group, a board of companies involved in promoting the sport and exploiting its commercial rights.

Delta Topco, the company which ultimately owns the group, released a statement on the decision.

"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," it read.

"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."

However, Red Bull team boss Christian Horner showed his support for Ecclestone, who runs the Formula One Constructors' Association (FOCA).

Horner said: "Bernie is absolutely the best and only guy to do what he does, to take Formula One to the global reach that the sport has achieved, introducing races in Russia this year, going back to the Austrian Grand Prix.

"It's a massive calendar that he's pulled together it's in all our interests that he's around as long as possible."

Write for GiveMeSport! Sign-up to the GMS Writing Academy here: http://gms.to/1a2u3KU

DISCLAIMER: This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms

Topics:
Formula 1

Article Comments

Report author of article

Please let us know if you believe this article is in violation of our editorial policy, please only report articles for one of the following reasons.

Report author

DISCLAIMER

This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.

Want more content like this?

Like our GiveMeSport Facebook Page and you will get this directly to you.

Already Subscribed to Facebook, don't ask me again

Follow GiveMeSport on Twitter and you will get this directly to you.

Already Following, don't ask me again

Like our GiveMeSport Page and you will get this directly to you.

Already Subscribed to G+, don't ask me again