Bernie Ecclestone and the board of directors at CVC, owners of Formula One, have agreed that the Brit should step down from his position on the board until an ongoing court case is heard. Ecclestone faces a German court hearing regarding alleged bribery with regards to the sale of Formula One in 2006, a charge which he denies. Until the verdict is heard, he will not serve on the board that manages F1.
A statement from the parent company states: “The board believes that it is in the best interests of both the F1 business and the sport that Mr Ecclestone should continue to run the business on a day-to-day basis, but subject to increased monitoring and control by the board. Mr Ecclestone has agreed to these arrangements.”
Judges in Munich had been looking at evidence to decide whether the case should come to court or not, and confirmed today that it would go to trial. The expected date of the trial is in April of this year, meaning the 2014 season will start without Bernie on the board.
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