A statement issued by Formula One Group confirmed Ecclestone will retain day-to-day responsibility for the sport but will come under great control from the company’s board.
Chairman Peter Brabeck-Letmathe and deputy chairman Donald Mackenzie will assume responsibility for signing “significant contracts and other material business arrangements”, according to the statement.
It is over three years since German banker Gerhard Gribkowsky was arrested on suspicion of receiving a ?é?ú27m ($44m) bribe from Ecclestone. Gribkowsky was sentenced to eight-and-a-half years in prison and dropped his appeal against the sentence last May.
Ecclestone is to be tried on bribery charges in Munich. Ongoing legal action surrounding the affair includes a case before the High Court in Britainin which media rights company Constantin Medien allege Ecclestone paid a bribe to ensure he would remain in control of the sport when it was sold to current owner CVC in 2006.
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