I’ll be honest with you here, with my investigative journalist hat on I could write an entire book on Bernie’s life, career and business dealings and easily spend the next year researching it.
As much as I’d love to do that, I don’t quite have the time, and in all probability, knowing his reputation for getting legal on books written about him, couldn’t afford the lawsuit.
Image : Nick J Webb
So what I’ve decided to do is pen a very short feature article instead, studded with links to some of the best Ecclestone articles that I’ve come across. So Enjoy !
For those of you who don’t know, and to be honest you’re not really an F1 fan if you don’t, Bernie Ecclestone is the man behind catapulting F1 into the global perspective ( making himself a few hundred million in the process.)
The 82-year-old , originally from Bungay Suffolk, is reported to be worth £2.5 Billion, the F1 Supremo as he is uually dubbed, is famously short in stature but never on an opinion.
He owns Formula One holdings, controls the sport and holds a 25 year contract with the FIA( sports governing body) for TV rights – which has ten years left to run.
In an interview with the BBC in 1997 Ecclestone commented on how dangerous it would be if the teams controlled the sport.
“ If all the teams owned it they’d destroy it. They can’t agree on anything, not even on how to share their money out. They think they can run the business – I know they can’t.”
When you consider how easily the manufacturers fall out over tyres, or the legality of a front wing, he’s probably right.
If you can stomach the business gobbledegook, this article from the Economist provides an insight to how F1 is run and the phlanx of companies behind it.
This article again from The Economist, dates from July 2000, four years earlier than the previous link and gives a detailed view on the where the money comes from in F1,shedding light on the companies behind it .
In summation, Ecclestone owns both The FOA (Formula One Administration) where the sport is run from and FOM (Formula One Management) the company that controls it’s TV and promotion rights .
This quote from the aforementioned article, illustrates Bernie’s business acumen and the vice like grip that he now has on the sport.
“Mr Ecclestone’s position in F1 is now unassailable. Promoters cede any media rights they have to him. Similarly, under the Concorde Agreement, the teams surrender the right to their images. So the circuits are disenfranchised from the broadcasters who, in turn, are disenfranchised from the teams. The teams are beholden to Mr Ecclestone”
Tv rights is where Ecclestone has made his millions , he has set himself up as the only man who can negotiate global TV rights for F1 to countries across the world.
Equally as lucrative are the promotion rights ( which he also controls ) these right set out who actually organises the Grand Prix races and are just as important as the TV rights.
This link to yet another frankly brilliant article from The Economist, gives a bit of depth to what F1 was like before Ecclestone came on to the scene.
This piece from ESPN details Ecclestone at 80, briefly chronicling the first 8 decades of his life including his former career as a motorbike salesmen,his time as owner of Brabham and his marriage to a Croatian supermodel 30 years younger and nearly a foot taller than himself.
The final link I’ve got for you, is from Bleacher Report, it’s similar to the ESPN piece looking back at Ecclestones career. Though bizarrely structured as a slideshow, it’s another very interesting read.
Front of the Grid was created by Freelance Journalist Chris Allen. it aims to provide cutting edge news and opinion on the latest and greats issues in Formula 1 