Bernie Ecclestone

Bernie Ecclestone attempted to qualify for a single World Championship event. He was in a Connaught-Alta, one of a fleet of three entered by himself. He finished qualifying 265.2 seconds off the pace, and his two team-mates failed to qualify as well.

He is, however, the most important single person in Grand Prix history. He took charge of Motor Racing Developments in 1972, from Ron Tauranac. He was the team principal for Nelson Piquet's two drivers' titles, but he'd lost interest by the time Brabham missed the deadline to enter the 1988 World Championship.

Into the governance of the sport he went, and he modernised it, and quickly controlled Formula One. He is now the leader of a billion-dollar industry. He is a divisive figure, but he's not done badly for someone who was four minutes off the pace on a Saturday in Monaco.

 

[F1Yorkshire]

Interesting interview with Bernie on Sky at the moment. Pirelli have 6 year contracts to supply teams with the tyres. 22 races penciled in at this stage but only a maximum of 20 allowed on the calendar. He still gives away nothing though when it comes to actual facts though.

 

[Titch]

He gives nothing away full stop.

 

[FB]

Loved his comment about Alonso leaving Ferrari for Marussia.

 

[Mephistopheles]

Yeah he's a real wag...

Edit

Definition 3

http://www.urbandictionary.com/define.php?term=wags

 

[Bill Boddy]

wag2
Pronunciation: /wag/
Translate wag | into French | into German | into Italian | into Spanish
noun
dated
a person who makes jokes: one wag shouted, ‘On that count you’ve got about three supporters!’

http://oxforddictionaries.com/definition/english/wag--2

 

[Blog Zbod]

No further movement on the German bribery case until 2014. I wonder how many billionaires are in prison around the world?

Maybe it's a slow news day but there are news sources that are looking suspiciously at the fact that Bernie has not ordered a new RV for the 2014 season (as if that is a hint he might not be around).

 

[Blog Zbod]

In Formula One, a Grip Not Easily Loosened

 

[FB]

I'd love that article to be rewritten in English.

 

[Fenderman]

The Gribkowsky back-hander and CV dodgy sale affair has reached the High Court in London.

CTA regulars will be familiar with this ongoing saga which dates back to the sale of the F1 commercial rights to CVC in 2006. Bernie bunged a £27m back-hander to a German banker, Gerhard Gribkowsky, allegedly for corrupt services rendered during the sell off. Last year Gribkowsky was sentenced to eight years in jail having been found guilty on charges of corruption connected with the deal. Bernie is waiting for the trial dates in Germany.

Meanwhile poceedings are now underway at the High Court in London and Bernie is to appear as a witness next week. It is claimed that Bernie made a "corrupt agreement" and deliberately undervalued the sale of the Formula 1 Group during to CVC. The court was told Ecclestone did that to keep his control of F1. The German media company, Constantin Medien, is claiming £90m in damages for its losses because of the deal. Philip Marshall QC, representing Constantin, said a banker (Gerhard Gribkowsky) had "assisted" Ecclestone to facilitate the sale of the Formula 1 Group to a "purchaser chosen by Mr Ecclestone" (CVC).

Bernie's defence seems to be relying on a rebuttal of the facts on the basis that they have no merit. It will be an interesting case to follow, particularly as it is by no means easy to get a case to Blighty's High Court. There will be some serious meat in the charges and evidence that will require some serious meat to refute.

 

[Greenlantern101]

Does this mean the government could go to jail for under valuing the post office shares?

 

[Fenderman]

If someone has the guts and wherewithal to launch the case!

 

[teabagyokel]

Greenlantern101 - If someone can prove that they did it out of spite rather than incompetence. A rather more difficult proof with the government than the clearly competent Ecclestone.

 

[Kewee]

I can't help thinking Bernie has major problems this time. I'm wondering how clever he is, possibly not very at all.

He accepts he made payments of $44 million to Gribkowsky but claims he was being blackmailed by Gribkowsky who was threatening to expose his taxation affairs to the British authorities. The question many must surely be asking is why pay $44 million to silence Gribkowsky, if you tax affairs are in order you've got nothing to hid.

 

[Road of Bones]

His defence always seemed to be that his tax affairs were in order, but he wanted to avoid the disruption and inconvenience of HMRC going through his accounts. I'm not sure that'll hold up in court now, frankly...

 

[Kewee]

Wish I could afford $44 million to avoid inconvenience and disruption. If the Inland Revenue Department in Britain are anything like they are in New Zealand, payment of any money at all to silence someone would guarantee your entire life, business and private, would be turned inside out, and you better hope and pray they find nothing.

 

[canis]

I think if the HMRC had any reason to suspect they may find something they would love to spend years raking through Bernies accounts, but as the whole investigation would cost millions due to the manpower needed to do the job properly, they need to be very sure of finding something that will earn them billions back again. This is the thing that Bernie counts on every year, because HMRC can't be seen to be spending millions with no results so unless they have something concrete to start with they are not going to bother....

 

[Kewee]

I don't know how the HMRC work in comparison with the Inland Revenue Department here in New Zealand, but here the Inland Revenue Department employ investigators who spend their entire working life investigating taxpayers selected randomly without any suspicion at all. During a five year period I had two GST audits, a desk audit and a full audit all of which took considerable time and no doubt money, and found nothing as there was nothing to be found. in fact I did make one small error, picked up in one of the GST audits. Overpaid GST meaning they owed me $2500. They seem to leave me in peace now.
I'm sure the cost of investigations would be irrelevant in Britain just as they are here, especially if there's a hint of wrongdoing. They will employ a large number of investigators that need to justify their existence. The role of any countries revenue gathering department and its inspectors is simply to make sure taxation laws are adhered to and people fulfill their obligations as taxpayers.

 

[Jen]

One would hope so Kewee, but our tax investigators tend to go after 'little men' as it is far more efficient, i.e. they can't afford the back up and are easily cowed into submission.

So far more revenue from a few individuals than a couple of corporates!

 

[Kewee]

Much the same here Jen. It's often the little men that are targeted. I won't discuss my income but I do know exactly why I was targeted and my accountant believes I'm probably right in my suspicions. I'm now employing additional services of a very good tax accounting specialist for added protection.

 

[teabagyokel]

http://sniffpetrol.com/2013/10/30/allegations-made-against-ecclestone/