1970s
In his first year running team negotiations, Ecclestone raised average prize and fee payments per team from about $10,000 to $40,000.
“In Bernie's first year running the show, he takes the average prize and fee payment up to $40,000 a year.”
Topic
Bernie Ecclestone
11 facts from 2 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
1972
In 1972 Bernie Ecclestone bought the Brabham F1 team for 100,000 British pounds.
“in 1972, Bernie buys the Brabham F1 team for 100,000 British pounds, which would be about $2.3 million today.”
1980s
In the second Concord Agreement the TV revenue was split 30% to the FIA, 47% to FOCA and the teams, and 23% to Ecclestone's FOPA.
“it ends up splitting out that the FIA gets 30%, FOCA and the teams get 47%, and FOPA, Bernie's company, gets 23%.”
1981
The first Concord Agreement was signed in 1981 between Ecclestone's Constructors Association and the FIA, and the name still applies to the roughly five-year agreements governing F1.
“that finally get hammered out in 1981 with the first Concord Agreement, which is still the name of the roughly every five-year agreements that govern F1 to this day.”
1993
Bernie Ecclestone became Britain's highest-paid corporate executive in 1993, with $44.5 million in reported cash pay.
“Bernie starting in 1993 becomes the highest paid corporate executive in Britain taking home in 1993 $44.5 million in cash”
1999
After shelving an IPO, Ecclestone had Morgan Stanley issue debt secured on F1 TV revenue, known as the Bernie bonds, to fund a $1.4 billion special dividend.
“So he switches banks to Morgan Stanley and convinces them that instead of IPO-ing, they should issue debt on F1 and use the proceeds from the debt to pay himself and his new offshore entities a special $1.4 billion dividend.”
2001
In 2001 Ecclestone secured a 100-year commercial rights agreement to Formula One from the FIA through a no-bid process for $360 million.
“The key asset that this company owns is in 2001, Bernie had secured the 100-year commercial rights to Formula One from the FIA.”
2005
CVC Capital Partners and Ecclestone spent about $2 billion in 2004 and 2005 to acquire 100% of F1 from the banks and from Ecclestone's family trust.
“All told, CVC and Bernie for his portion spend about $2 billion acquiring 100% ownership.”
2017
On January 23, 2017 Liberty Media announced that Bernie Ecclestone was stepping down as F1 CEO.
“on January 23rd, 2017, after they had announced the acquisition the previous fall, Liberty announces that Bernie is stepping down as CEO.”
2023
In 2023 Bernie Ecclestone pleaded guilty to tax fraud and paid about 653 million pounds in back taxes and fines.
“In 2023, Bernie ultimately pleaded guilty to tax fraud as a result of all the machinations we're about to talk about and had to pay a 653 million pound payment to the crown in back taxes and fines.”
Undated
Enzo Ferrari reportedly told Bernie Ecclestone that in racing the sport is on the table and the business is underneath it.
“Enzo told him one time that the sport is on the table and the business is underneath it.”
Episodes