Formula One supremo Bernie Ecclestone could be forced from the sport he's controlled for 40 years due a criminal inquiry and lawsuit linked to a bribery scandal, British newspaper The Independent reported Friday night.
Ecclestone, 82, is under investigation in Germany over GG Consulting. That company set up by a German banker received $44 million from Ecclestone, money that was allegedly used to ensure the bank would sell its stake in F1 to CVC Capital. CVC Capital is a London-based private equity firm that controls a large percentage of F1 and has agreed to keep Ecclestone in charge.
The newspaper reports that German prosecutors are deciding whether to charge Ecclestone. There is also a separate lawsuit filed in New York over the same allegations.
Ecclestone said he was "absolutely not guilty" he paid a bribe or that banker, Gerhard Gribkowsky, was "shaking him down." He also told The Independent that he had no plans to retire, although he hinted there should be a succession pla...