Ecclestone remains at the head of F1: CVC has renewed its trust in him
Despite accusations of corruption
CVC, the group that holds F1's commercial rights, has renewed its trust in Bernie Ecclestone despite allegations of corruption in Germany.
The corruption case Ecclestone is being investigated concerns the payment of a $44 million bribe to German banker Gerhard Gribkwosky a few years ago. Ecclestone defends himself by claiming that he paid the bribe because the banker threatened him that he would reveal all his secrets.
Ecclestone added to the Sunday Times that late last week in Geneva, CVC bosses met to discuss the consequences of the German investigators' investigation: “Everyone voted to support me and let me stay and run the business,” Ecclestone said . “The council accepted that I should go without a conviction.”
Ecclestone dismissed the allegations as "a complete load of nonsense".
Ecclestone said of the investigators: “I hope they don't prosecute but I think they will. We'll see what happens. But it doesn't mean there will be a trial."
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