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Formula 1 boss Ecclestone faces German bribery trial and possible jail time

t">Bernie Ecclestone in the dock again Formula 1 chief executive Bernie Ecclestone goes on trial for bribery in Germany this week in a case that threatens to end the Briton's long reign as the commercial boss of the motor sport. Prosecutors in Munich have charged Ecclestone, 83, with bribing jailed former German banker Gerhard Gribkowsky to smooth the sale eight years ago of a stake in Formula One to private equity firm CVC. CVC remain the largest shareholder in Formula One, a business that generates annual revenues of over $1.5 billion from its series of grand prix races held around the world. CVC co-chairman Donald Mackenzie has said that he would fire Ecclestone if he was found...
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11mo ago from GrandPrix247.com 0
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