F1's owners sell stake and call time on Bernie Ecclestone

[FLRacingFan]

I hope this happens. It's past time for Bernie to pound sand.

The owners of Formula One, CVC Capital Partners, are to sell a large part of their controlling 35.5% stake in the sport as they face up to life after Bernie Ecclestone. The new investors will “have a view on the value of the sport”, according to an insider.

Decision makers at the City-based private equity firm have decided that Ecclestone, the sport’s chief executive and commercial rights holder, must go even if he wins his court case in Munich, where he is fighting bribery charges.

They are convinced that Ecclestone, who will be 84 in October, will continue to be an embarrassment, with HM Revenue and Customs likely to ask further questions about his complex tax affairs, which formed the basis of a Panorama investigation.

The identity of Ecclestone’s successor is unknown but reports that it could be Red Bull’s Christian Horner, the team principal who is closest to Ecclestone, are wide of the mark. It is felt that he does not have the corporate background that is required for the job.

Full article

 

[Greg]

Bernie has always been from the dark side imo. But I have mixed feelings about him. His era has been a good one. I think he should have kept more events in Europe and his incredible fees forced some venues that are not as passionate imo.

Still the same I doubt that the next head honcho will be able to grow the series as well.

 

[hawg dawg]

w/ all tha worldwide tracks.....they better use kid gloves w/ puttin bernie out ta pasture.
he knows where all tha criminal dirt is ! ha!

 

[FLRacingFan]

Bernie has always been from the dark side imo. But I have mixed feelings about him. His era has been a good one. I think he should have kept more events in Europe and his incredible fees forced some venues that are not as passionate imo.

Still the same I doubt that the next head honcho will be able to grow the series as well.

There's no doubt earlier in his reign he made some great progress with TV rights and safety, but recently he's just become senile. Fake rain, the medal system, the Abu Double, five shortcuts per race, stubborn refusal to engage with social media (not even so much as YouTube channel) - most of his stances and ideas now are just utter garbage. I wouldn't mind at all if someone who isn't a complete money-grubber and has a sound mind comes in and cleans up a bit. Just this week he even threatened to take Monza off the schedule after the current contract runs out. He needs to be canned.

 

[KevinWI]

Ecclestone is like the Emperor from Star Wars. Pure evil. That said, the sport has been very prosperous under his rule. I wouldn't miss him, but with all the big money special interests in F1, the next boss needs an iron fist like he did to keep the peanut gallery in line.

 

[hawg dawg]

There's no doubt earlier in his reign he made some great progress with TV rights and safety, but recently he's just become senile. Fake rain, the medal system, the Abu Double, five shortcuts per race, stubborn refusal to engage with social media (not even so much as YouTube channel) - most of his stances and ideas now are just utter garbage. I wouldn't mind at all if someone who isn't a complete money-grubber and has a sound mind comes in and cleans up a bit. Just this week he even threatened to take Monza off the schedule after the current contract runs out. He needs to be canned.

yeah ...bernie needs ta go .
but like all dictator preeks ....try tellin him that.
if coup d'etat ain't sucessful ...could be one big fdk up mess...for a while.
remember open wheel power struggles here. mini show compared ta this.
at this point ....bernie prolly cares whole lot more bout his dignity / legacy.....than $$
already got tha $$ .
hope pr. eq. folks realize that.......... but they're preeks too....so who knows.