Banker Gerhard Gribkowsky may have taken a $50 million kickback for engineering the sale of Formula One, the world’s most-watched motor sport, German prosecutors say. Who paid that suspected bribe, they aren’t saying.
That mystery has thrown a spotlight on the partnership between 80-year-old Formula One Management Ltd. Chief Executive Officer Bernie Ecclestone, a fixture of London’s tabloids, and the company’s buyer, CVC Capital Partners Ltd., one of Europe’s largest and most-private buyout firms. The case is also reviving the anger of media mogul Leo Kirch, who says the racing company he once owned was sold on the cheap. Meanwhile, Gribkowsky sits in a German prison that held Adolf Hitler  … Details
While the British Government is considering shortening journey times by increasing motorway speed limits, their counterparts in Spain are looking at reducing theirs to save the environment.
The move has been criticised by former Formula One champion Fernando Alonso who says motorists will find it hard to stay awake because they are driving slower.
Politicians in Spain have decided to lower the national speed limit to … Details
The 80-year-old chief executive of F1 returned to an old favourite on Tuesday when he re-proposed the introduction of a sprinkler system to spice up boring races.
“Look at the races we have now,†Ecclestone said. “Overtaking is almost impossible because  … More