Photo: tracksideviews.com
Formula One boss Bernie Ecclestone has resigned from his position at Delta Topco, the company that runs the sport. The 83-year-old will stand trial in Germany on bribery charges later this year, being accused of giving a $45 (33 / 27.5) million bribe to a banker.
Despite stepping down from the board of directors until the case concludes, Ecclestone will continue to run Formula One on a daily basis.
“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 in the business... but subject to increased monitoring and control by the Board. Mr Ecclestone has agreed to these arrangements,” Delta Topco said in statement.
The “F1 Supremo” is accused of paying $45 million to German banker Gerhard Gribkowsy, who has already been sentenced to jail. Ecclestone admitted paying Gribkowsky, but claimed he was the victim of blackmail.
The trial is expected to begin in April.
“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 in the business... but subject to increased monitoring and control by the Board. Mr Ecclestone has agreed to these arrangements,” Delta Topco said in statement.
The “F1 Supremo” is accused of paying $45 million to German banker Gerhard Gribkowsy, who has already been sentenced to jail. Ecclestone admitted paying Gribkowsky, but claimed he was the victim of blackmail.
The trial is expected to begin in April.
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