Bernie Ecclestone is a well known name to older Formula 1 and members as he was the ringmaster of this great show for years until Liberty Media took over in 2017. The man is almost a legend himself in the world of Formula 1 due to the position he enjoyed and the way he influenced the sport.
But, all good days end and currently, Bernie Ecclestone is undergoing trials for a massive fraud committed to which he pleaded not guilty earlier. He was pretty sure about his innocence, yet he stands under suspicion for changing statements and actually pleading guilty.
Who is Bernie Ecclestone?
Bernie Charles Ecclestone was the former Chief Executive of the Formula 1 Group, which controls F1 racing and rights to the sport. He bought and ran the Brabham team for 15 years after he bought it in 1972, becoming a member of the Formula 1 Constructors Association as a team owner.
He was able to control the administration, setup and logistics of each and every Grand Prix during his reign through the powers administered to him via the Concorde agreement. This made him one of the richest men in the United Kingdom.
Bernie was later replaced by Chase Carey in 2017, marking the end of his saga.
Why is Bernie Ecclestone known as F1 Supremo?
A man as famous ad the sport he owned, Bernie Ecclestone was called F1 Supremo by the British tabloids owing to his dominant control of the sport an the radicalizations introduced by him in the sport and his fairly successful time as a team owner of Brabham.
Such was Bernie’s influence over that sport that a disagreement between him an Jackie Stewart caused British Grand Prix to be dropped from the sport for years until he was eventually pressured to revive it again. Bernie Ecclestone is said to have shook people when he walked by them in the paddock with his powerful presence.
Ecclestone pleads guilty to $489 million in fraud
The ‘F1 Supremo’ finally bites the dust when he recently pleaded guilty to a massive fraud committed in name of a trust he owned.
Bernie Ecclestone failed to disclose to the government in 2015 that he held a bank account in Singapore which originally held $650 million at the time of allegations. Last year he was summoned to the Westminster Magistrates Court in August where he pleaded not guilty to the charges labelled against him.
On Thursday, however, in a shocking turn of events, he pleaded guilty, going back on his words from earlier at the Southwark Crown Court. This created a massive stir in media.
What do you think about this controversy? Did you know about Bernie Ecclestone before? Do let us know in the comments.
