Ecclestone Sued for $408 Million
Discussion
Saw this last night on Twitter but couldnt see it on the BBC site today http://www.telegraph.co.uk/sport/motorsport/formul...
It would seem that the sale of the broadcasting rights, which was reported to be destined for last year, then this year then?, will be put on hold yet again. Regardless of whether Eccs has to pay this sum, the threat of the action will probably hurt him.
One wonders if this will have an effect on the concord agreement, or at least the negotiations. Eccs will want to sell to realise his assets but it would seem that now is not the time. The question is: when?
One wonders if this will have an effect on the concord agreement, or at least the negotiations. Eccs will want to sell to realise his assets but it would seem that now is not the time. The question is: when?
This along with all the other deals in F1 will not hurt Bernie. Too many people make too much money because of him. Do read Tom Bowers book. Whilst not the whole story it certainly gives a very good indication of how and why Bernie is the way he is and how he wins again and again. I am far from a Bernie fan, for all the reasons any British Motorsport follower would loath him. But have to respect his grip on the sport, even if I wish it wasn't as tight as it is.
This along with all the other deals in F1 will not hurt Bernie. Too many people make too much money because of him. Do read Tom Bowers book. Whilst not the whole story it certainly gives a very good indication of how and why Bernie is the way he is and how he wins again and again. I am far from a Bernie fan, for all the reasons any British Motorsport follower would loath him. But have to respect his grip on the sport, even if I wish it wasn't as tight as it is.
Telegraph said:
The 82 year-old denies he did anything wrong. He claims the $44million payment was to stop Gribkowsky from making false allegations about his tax affairs which could have cost him billions.
Eh, if the tax allegations were false how could they cost him billions?How many are thinking they are waiting for Bernie to snuff it first rather than go to court, I think it'll be a bigger can of worms opened than Jimmy Savile if it does. Anyway a mere $650m? Tamaralala gets that a month in pocket money. :spoiltb
hsmiley:DWP said:
This along with all the other deals in F1 will not hurt Bernie. Too many people make too much money because of him. Do read Tom Bowers book. Whilst not the whole story it certainly gives a very good indication of how and why Bernie is the way he is and how he wins again and again. I am far from a Bernie fan, for all the reasons any British Motorsport follower would loath him. But have to respect his grip on the sport, even if I wish it wasn't as tight as it is.
The thing with Ecclestone is that he controls. He is worth a lot of money because of what he controls. If his grip is loosened then other will tug at it.Ecclestone has said in less than subtle ways that he wants out of CVC. He wants to sell it. What he is saying is, in effect, he's on his way out. This will leave a gap that others will want to fill. Further, Ecclestone seems to have organised no replacement: no succession planning.
These threats to sue him and the German legal system suggesting that they might arrest him is not going to make his bargaining position stronger.
From what I can see, Ecclestone's position is weaker now than it has ever been since he was 'awarded' the rights.
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