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SBD Global/August 29, 2014/Leagues and Governing Bodies

F1 CEO Bernie Ecclestone Vows Revenge Against Critics Following $100M Settlement

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F1 CEO Bernie Ecclestone has "promised to get even with critics who predicted his downfall from a bribery trial, which he settled earlier this month," according to Christian Sylt for the London INDEPENDENT. He paid $100M to prosecutors in Germany to "put the brakes on charges that he paid a bribe to steer the sale of Formula One" to his preferred buyer, CVC. Ecclestone: "Now I am in a position where I have got a little bit more time and I shall follow my old idea in life: 'Don’t get mad, get even.' I haven't got mad but I’m going to get even." He said that "high on his list is Dieter Hahn, a German businessman on the board of media rights company Constantin Medien." The settlement "paves the way" for CVC to sell its 35% stake in the sport. According to recent reports, "possible buyers include Virgin Media's owner Liberty Global, Disney" and Ecclestone himself. He said, "Disney is a nice company. Nice people. Lots of people have looked at buying Formula One. Until they start looking at what they have got to pay, it is coffee-shop talk" (INDEPENDENT, 8/28).
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