Ecclestone regains control of F1

LONDON — Bernie Ecclestone’s control of Formula One was fully restored on Thursday (yesterday morning, Singapore time) after overcoming court cases that threatened his grip on the motorsport series.

Ecclestone, 84, stepped down as a board member of F1’s holding company this year while standing trial for bribery in Germany. The case was closed in August when he made a US$100 million (S$131.5 million) settlement payment.

Investment group CVC Capital Partner, F1’s controlling shareholder, announced Ecclestone’s return to the board in a statement on Thursday, and that he will continue as chief executive. CVC also said former Ferrari chairman Luca di Montezemolo and Paul Walsh, the former chief executive of drinks giant Diageo, will become non-executive directors from next month.

Ecclestone built his powerbase in F1 from the 1970s and helped to create the Formula One Constructors’ Association that controlled the business side of the series, including selling the TV rights.

The British-based company later became known as Formula One Management. It has fought regular tussles with the teams over finances, but has retained control of the global motor racing extravaganza.

Meanwhile, Ecclestone is also keen to return South Africa to the schedule. There has not been an F1 race in Africa since the South African Grand Prix in 1993. Ecclestone told Russian agency R-Sport: that “we’re in the middle of trying to do something in South Africa’, and that it would “be nice to get back there”.

A return to South Africa was mooted in 2011 with a possible street circuit in Cape Town, but the city council rejected the idea last year, saying it would be too noisy.

The Kyalami circuit near Johannesburg, which hosted 20 F1 races from 1967 to 1993, was bought by Porsche in July but requires extensive redevelopment to host F1 again. AP