King Bernie turned Formula 1 from a ragtag pastime into a trillion dollar sport

Bernie Ecclestone is facing his biggest challenge in 2014

Bernie Ecclestone is facing his biggest challenge in 2014

Bernie Ecclestone’s eye for a deal has made him a fortune and turned Formula 1 motor racing into a global money-spinner, but a bribery trial that won’t go away threatens to end his long reign as the kingpin of the business.

Ecclestone, who is 83, has been ordered to stand trial in Germany in a case relating to the sale of a stake in Formula 1 in 2005-06. He has denied wrongdoing in a complex case that has seen a German banker jailed for tax evasion.

Despite his advanced age, the former car salesman remains central to the commercial operations of a sport followed by millions of fans around the world and that considered a flotation on the stock market in Singapore in 2012.

Bernie Ecclestone with Gerhard Gribkowsky

Bernie Ecclestone with Gerhard Gribkowsky

Ecclestone has long dismissed talk of retirement but has acknowledged that a conviction in Germany would force him out, saying with typical bluntness that he couldn’t run the business from jail.

Leading F1 shareholder CVC said in November that Ecclestone would be fired if he was found guilty of wrongdoing.

Ecclestone has been immersed in motor racing since moving into team management after failing to make it as a driver in the 1950s.

He gained control of the commercial rights to the sport from the 1970s onwards, profiting from a growing TV market and expansion into emerging markets.

Bernie Ecclestone has fans

Bernie Ecclestone has fans

After years as F1’s public face, racing fans ask him to pose for photographs and sign autographs when he appears at race tracks alongside drivers like German World Champion Sebastian Vettel and Briton Lewis Hamilton.

Interviews and conversations, at least around the grey paddock bus with blacked-out windows that serves as his control centre during the European races, tend to be quick and to the point.

Though there is no time for small talk or hesitation, Ecclestone always provides a headline.

He has had the haunting theme tune to ‘The Good, the Bad and the Ugly’ as the ringtone on his mobile phone for some years now.

Bernie Ecclestone with Crown Prince Shaikh Salman bin Hamad Al Khalifa in Bahrain

Bernie Ecclestone with Crown Prince Shaikh Salman bin Hamad Al Khalifa in Bahrain

Ennio Morricone’s score for the classic 1960s Italian Spaghetti Western is just right for F1’s stone faced “Little Big Man” and his endless quest for a few dollars more.

In the last decade that quest has taken F1 to lucrative new markets in Abu Dhabi, Bahrain, China, India, South Korea and Singapore at the expense of older venues in Europe.

Known simply as Bernie, or just the ‘Mr E’ written on the car pass that allows his sleek Mercedes limousine access to the F1 paddock inner sanctum, the British billionaire is rarely out of the news.

The money has come rolling in, multiplied by amazing deals that have seen him sell F1 several times over while retaining a tight grip on the top job.

Ecclestone married for a third time in 2012 to Fabiana Flosi, a Brazilian more than 40 years his junior.

Bernie Ecclestone with ex-wife Slavica Ecclestone and his daughters Petra and Tamara in 2005

Bernie Ecclestone with ex-wife Slavica Ecclestone and his daughters Petra and Tamara in 2005

The Briton has a private jet and one of the finest collections of classic racing cars in the world at his Biggin Hill airfield in south London but, apart from throwing the sort of parties that impress even the A-list celebrities attracted to the Monaco Grand Prix, is not personally ostentatious.

He likes a game of backgammon with young and old friends, including World Champion Vettel, and a quiet night in.

His two socialite daughters from his second marriage often feature in the gossip columns of British newspapers, drawing criticism for their lavish lifestyles in a time of austerity.

For Ecclestone himself, money, as he has explained to many an interviewer over the years, is merely his way of keeping the score.

Formula 1 was a ragtag affair before Bernie Ex=cclestone transformed it - here the Renault works team is worked on by crew during the 1979 South African GP weekend

Formula 1 was a ragtag affair before Bernie Ecclestone transformed it – here the Renault crew at work during the 1979 South African GP weekend

Ecclestone has a reputation for being uncompromising and obsessively neat. The trucks in the paddock have to be lined up with mathematical precision and in showroom condition.

By his own admission he is a dictator – a man who does a deal on a handshake, has a fondness for the office shredder and an aversion to email and written contracts.

He surrounds himself with a small group of deeply loyal and well-remunerated employees, many of them dating back to the days when he owned the Brabham team in the 1970s and 80s, and who know exactly what makes him tick.

“I don’t think democracy is the way to run anything,” he once said. “Whether it’s a company or anything, you need someone who is going to turn the lights on and off.” (Reuters)

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  • Spartacus

    F1 needs a dictator as the teams would never agree in unison!

    Bernie was smart enough to sell F1 to the world, but as Ken Tyrrell stated he never owned it in the first place. You can’t entirely blame Bernie when the world beats a path to him with wads of cash either.

  • McLarenfan

    Without Bernie F1 would have died a death along time ago, what F1 needs is the FIA to get a grip on reality or to disappear without a trace as they are trying to get a bulging bank balance at the expense of the teams and drivers as well as collecting from Bernie
    I think the fact is all these parasitic companies are after another pay day they are lying twisted Bankers they have said on the record they got more money than F1 was worth and now because of Gerhard Gribkowsky they see another pay day. Bankers should be shot.

  • Ed Shendell

    Glad to see someone else refer to the senior midget as “King Bernie”

  • RBC

    Every sport world wide went from nothing to being worth billions. Baseball, football, basketball. Bernie did nothing magical. His only talent was getting his hands on all the money. He built nothing that would not have occurred anyway.

  • Dr. Azlan

    Nice pit crew attire back in the old days.