Bernie Ecclestone

Nicknamed 'El Bernie', the connection to dubious practices was quickly made. Bernie Ecclestone, the former owner of Formula 1, had a peculiar way of operating, but according to many, he always managed to get things done. However, some argue that the Formula 1 we see today, under Liberty Media, would never have been possible under Ecclestone's leadership.

At 89 years old, Bernie Ecclestone is one of the older legends who occasionally appears in the F1 paddock. While he may no longer be the owner of the sport today, he didn’t begin his journey as the big boss either. In 1958, the Brit made his appearance on the grid as a driver after having raced in Formula 3 earlier in the decade. That same year, Ecclestone managed the career of driver Stuart Lewis-Evans, who tragically passed away after a racing incident. Years later, Ecclestone returned to managing drivers, this time with Jochen Rindt. Unfortunately, the German driver also passed away shortly after Ecclestone took on the management role. Ecclestone later appeared on the grid as a co-owner of Brabham.

Initially, Ecclestone worked alongside Ron Taurnac in exchange for his investment, but the personalities of both strong-willed individuals clashed. In 1972, Taurnac left, leaving Ecclestone as the sole owner of the team, which initially didn’t perform well. However, in 1973, 1974, and 1975, Brabham was competitive at the front of the field. Their results dropped when they decided to work with Alfa Romeo for engines, but success returned in 1978 with drivers Nelson Piquet and Niki Lauda.

Piquet left Brabham at the end of 1985, stating that there was “not enough money for my efforts.” Ecclestone was unwilling to pay the additional money required to retain the driver, even though Piquet had won titles with Brabham in 1981 and 1983. Three years later, Ecclestone sold the team for a hefty $5 million, having originally purchased it for just $100,000 sixteen years earlier.

In addition to running Brabham, Ecclestone was also involved in managing FOCA (the Formula One Constructors' Association), which was in direct opposition to the FIA (the governing body). The group, which included several teams, demanded a fairer distribution of money and better adherence to rules. The situation escalated when the FOCA teams didn’t attend a couple of drivers’ briefings, and the FIA threatened to revoke their licenses unless a fine was paid. The Spanish king demanded that the Grand Prix go ahead, and eventually, the race proceeded as normal. With the introduction of the Concorde Agreement, the FOCA (and Ecclestone) got what they wanted: a fairer distribution of money, as well as timely communication of rule changes to give teams enough time to adjust. The FOCA was also given the right to sign contracts with TV providers, and the income from these contracts would fund the prize money.

While it’s not uncommon for a circuit to pay a significant fee to host a Grand Prix, it became a major issue when an iconic race found itself in financial trouble. This happened to the British GP at Silverstone, which caused Ecclestone to receive a lot of criticism. The Brit was pocketing a large share of the income, despite being a billionaire. Not only did he fail to reinvest that money back into Formula 1, but he also maintained a casual approach to tax payments. In 2008, Ecclestone paid a hefty £10 million to the UK tax authorities after an investigation was launched into his financial practices and possible tax evasion.

In early 2017, it was announced that Ecclestone would no longer be at the helm of Formula 1, as Liberty Media bought the entire organization for billions. Ecclestone claimed that he was “pushed out,” and Chase Carey took over his position.

Since then, Ecclestone has occasionally appeared in the Formula 1 scene, often offering critical opinions about the current state of the sport. His former wife also owns the Paul Ricard circuit in France, which secured a contract just before Ecclestone was ousted.