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Continued: Formula 1 boss Bernie Ecclestone charged in $44 million bribery case in Germany

  • Article by: ROB HARRIS , AP Sports Writer
  • Last update: July 17, 2013 - 5:45 PM

Ecclestone was savvy in building his power base in F1 from the 1970s and helped to create the Formula One Constructors' Association that controlled the business side of the sport, 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 series.

CVC, having amassed a 63 percent stake of F1, has reduced its holding as other investors have come on board in recent years, although a planned flotation has stalled.

Ecclestone's holding has been diluted to about 5 percent.

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