Ecclestone leaves and stays

Bernie Ecclestone, who has been in command over the royal races for almost 30 years, leaves his position as the head of F1. But he will still be in charge of the sports section. The reason of such decision is that Ecclestone will face a court hearing in Munich. He is claimed to bribe a German banker Gerhard Gribkowsky in 2006 when selling Formula 1 commercial rights.

Bernie Ecclestone, who has been in command over the royal races for almost 30 years, leaves his position as the head of F1. But he will still be in charge of the sports section. The reason of such decision is that Ecclestone will face a court hearing in Munich. He is claimed to bribe a German banker Gerhard Gribkowsky in 2006 when selling Formula 1 commercial rights.

According to the official statement made by Delta Topco Ltd, the board of directors decided Ecclestone is to leave the organisation. But at the same time the members of CVC, a company owning the World Championship, said Bernie should still be dealing with sports management.

“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”, a statement read.

The major subject of this case and news has always denied bribery charges stating about it once again during the meeting of the board. Meanwhile the banker Gribkowsky has already been serving a jail sentence for some time.

The official statement made by the board of directors: “Mr Ecclestone assured the board his innocence to the charges and intends to defend itself vigorously in the process which will begin in late April."

If translated from the formal language, the decision taken by the board of the Formula 1 management means that some of the powers, owned by the 83 year old Ecclestone concerning taking strategic decisions on conducting the championship, will be transferred to other board members.

«The approval and signing of significant contracts and other material business arrangements shall now be the responsibility of the chairman, Mr Peter Brabeck-Letmathe, and deputy chairman, Mr Donald Mackenzie”, the official statement notes.

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