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How misreporting led to Ecclestone being accused of paying bribes to F1 teams
There is absolutely no doubt that Formula One is a complex business. The company structure is set up like a cat's cradle with each business having its own function and payments shuttling between them. Many observers attribute this solely to Bernie Ecclestone but in fact this is not the case. It is indeed true that Ecclestone set up a complex business web for F1 but it became even more labyrinthine with the arrival in 2006 of the sport's current majority shareholder, the private equity firm CVC. The structure now includes over 30 companies in seven jurisdictions so it is easy to get confused. There's no problem at all with that but if that confusion concerns proceedings in a court room it...
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10y ago from Pitpass.com
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