Ecclestone will still run F1 during bribery trial

3 Comments

During his upcoming bribery trial, Formula One Management CEO Bernie Ecclestone will still run F1, but has revealed he will step down from the board of directors of F1’s holding company.

The trial begins in April, as was determined by a Munich, Germany state court earlier on Thursday. Ecclestone was indicted in July for an alleged $44m bribe to jailed banker Gerhard Gribkowsky eight years ago.

A statement from the board said Ecclestone reassured it that he is “innocent of the charges and intends to vigorously defend the case,” but stepping down was necessary because 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.”

CVC Capital Partners, the owners of F1, said in November it was prepared to fire Ecclestone if he was found guilty of any charges, and said in July it could look outside F1 for a replacement. Other Ecclestone-related stories from the last few months or so are linked below:

  • Nov. 13: Ecclestone denies latest trial is bad for F1’s image
  • Nov. 12: Ecclestone will run F1 “the way I’ve always run it”
  • Oct. 30: Ecclestone faces new investigation as High Court trial begins

Have a decent tax refund coming? Buy Ayrton Senna’s 1993 Monaco-winning car

Photos courtesy Bonhams
Leave a comment

Are you expecting a better than normal tax refund? Did you get a very nice bonus from your company due to the new tax cut?

Well, if you have a good chunk of change hanging around and potentially can be in Monaco on May 11, you can have a chance to bid on the 1993 McLaren-Ford MP4/8A that the late Ayrton Senna drove in — and won — that year’s Monaco Grand Prix.

We’re not just talking about any race winner. It’s also the same car Senna won his sixth Monaco Grand Prix, and the chassis bears the number six.

It’s also the same car Senna piloted to that season’s F1 championship (his third and final title before sadly being killed the next year) and is the first McLaren driven by Senna that’s ever been sold or put up for auction.

The famed Bonhams auction house is overseeing the sale of the car.

“Any Grand Prix-winning car is important, but to have the golden combination of both Senna and Monaco is a seriously rare privilege indeed,” Bonhams global head of motorsport, Mark Osborne, told The Robb Report.

“Senna and Monaco are historically intertwined, and this car represents the culmination of his achievements at the Monegasque track. This is one of the most significant Grand Prix cars ever to appear at auction, and is certainly the most significant Grand Prix car to be offered since the Fangio Mercedes-Benz W196R, which sold for a world record at auction.”

How much might you need? You might want to get a couple of friends to throw in a few bucks as well.

“We expect the car to achieve a considerable seven-figure sum,” Osborne said.

The London newspaper “The Telegraph” predicts the car will sell in the $6.1 million range.”

“This car will set the world record for a Senna car at auction,” Osborne said. “We are as certain as you can be in the auction world.”

While you won’t be able to take the car for a test drive before the auction, it’ll be ready to roar once you pay the price.

“In theory, the buyer could be racing immediately upon receipt of the cleared funds after the auction,” Osborne said. “All systems are primed and ready.”