Formula 1 News

Ecclestone only worried if "incarcerated"

The Formula 1 'Supremo' says that only jail time will prevent him from running the sport.
Tuesday, June 4, 2013

June 4th, 2013 (GMM).- Bernie Ecclestone insists looming bribery charges do not immediately threaten his job at the helm of formula one.

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It had been claimed that when German prosecutors formalise the charges against the F1 chief executive, relating to the Gerhard Gribkowsky affair, the sport's owners CVC might depose him.

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However, FIA president Jean Todt said last week: "He (Ecclestone) has every right to his job and he does it very well.

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"He is also employed by CVC, so it is their decision," the Frenchman added.

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Nonetheless, with Ecclestone not having a deputy who could immediately step in to replace him, some names have been floating around the paddock in recent weeks.

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One of them was Justin King, the UK supermarket giant Sainsbury's current chief, but Ecclestone told the Bloomberg news agency that he rejected him.

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"The people they had wanted, if they had come on board, they would have wanted to be the stars," the 82-year-old said.

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Ecclestone, however, said he was open to working alongside a deputy.

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"If someone comes up who I think could do a good job, let's have him on board," he said.

"Lots of people have been suggested but I don't think they are the sort of people who could do the things I do."

But he insisted that a mere corruption charge is no danger to his job.

"They (CVC) are not worried with me being indicted, the problem is if I'm incarcerated," said Ecclestone said.

"They're quite laid-back. They're not panicking."

But at the same time, plans to float F1 on the stock market are on the back-burner, until the legal troubles in Germany are resolved.

"It would be silly to go into the market, you don't want any single (outstanding) question", Ecclestone admitted.

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