Ecclestone, the trial and money
Discussion
Before Ecclestone's latest trial, the criminal one, he was reported to have offered £20m to the prosecutors to negate prosecution. This would not be a legal admission of guilt.
Now, it is reported in The Times that the trial is adjourned to reconsider the offer, despite the trial adducing much evidence against him.
This would mean that he would be allowed to continue as front man for CVC. Nice to know there is a law for us and no law for them, it would appear.
The concern Ecclestone is expressing for the sport would seem to focus mainly on viewing figures, although the gaps in the stands at the last two GPs must have been a bit of a worry. On top of that there's there full stands at Silverstone and still a loss of £1m.
CVC must be really upset. This hardly bodes well for the floatation or a sell-off.
Now, it is reported in The Times that the trial is adjourned to reconsider the offer, despite the trial adducing much evidence against him.
This would mean that he would be allowed to continue as front man for CVC. Nice to know there is a law for us and no law for them, it would appear.
The concern Ecclestone is expressing for the sport would seem to focus mainly on viewing figures, although the gaps in the stands at the last two GPs must have been a bit of a worry. On top of that there's there full stands at Silverstone and still a loss of £1m.
CVC must be really upset. This hardly bodes well for the floatation or a sell-off.
longshot said:
Perhaps I've got this wrong but are you saying that he is offering to buy himself out of the s
t and they are considering it?
Let's make this clear: I'm saying that this is what The Times is saying.t and they are considering it?£20m? If he is found guilty then from what I can understand, he'd probably lose a lot more, what with being sacked as that is what the boss of CVC reckons would happen if he's found guilty. The £20m in effect buys off the finding. So what's not to like?
Also, the revelations stop as well as there is no more evidence.
tobinen said:
Worth a read too: http://joesaward.wordpress.com/2014/07/30/the-late...
The final paragraph reads as a criticism of everything Ecclestone:If other sports can make corporate management work, there is no reason why F1 cannot. It merely requires some owners who see the value in not always going for the fast buck, people who want profits but are willing to invest to build a stronger business. It needs competitors who are reasonable and fair and a management that is enlightened and open to new ideas.
Esseesse said:
As dislikeable a person as he appears to be, personally I'm quite fond of Bernie and hearing about what cheating lying dwarf antics he's up to. 
Sod him as a person. It's what he's done to F1 that makes him impossible to like.Not to mention that, now CVC are unable to sack him, what he will do in the future.
This has been a massive fail for Ecclestone though. There were reports that he offered $20m to the state before the trial, and that if it went ahead at the end of the prosecution case his offer would be considerably less. Or rather five times more.
He's had two legal trials now and in one he came out the winner despite being heavily criticised by the judge for apparent lack of honesty, and this time he's had to pay $100m to make his escape.
I remember reading that even if found guilty he'd not go to prison and the fine would have been around the $20m.
Mind you, we await Chris Sylt's justification for his suggestion that this was a total victory for the now $100m poorer Ecclestone and the richer by $100m state came out of it the loser. Can't wait.
The only question is how this will affect the sport.
From what I saw of him on TV, he's feeling the pressure. Recent interviews suggest the same. I get the impression he's losing it. The sport is just waiting for him to go.
He's had two legal trials now and in one he came out the winner despite being heavily criticised by the judge for apparent lack of honesty, and this time he's had to pay $100m to make his escape.
I remember reading that even if found guilty he'd not go to prison and the fine would have been around the $20m.
Mind you, we await Chris Sylt's justification for his suggestion that this was a total victory for the now $100m poorer Ecclestone and the richer by $100m state came out of it the loser. Can't wait.
The only question is how this will affect the sport.
From what I saw of him on TV, he's feeling the pressure. Recent interviews suggest the same. I get the impression he's losing it. The sport is just waiting for him to go.
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