May 2012: BlackRock, Norges Bank and Waddell Reed acquire a $1.6
billion (£848m) stake in Formula One from CVC, reducing the private equity
firm’s share to 36 per cent.
June 2012: Gribkowsky is sentenced to eight-and-a-half years in jail
after he admits corrupt payments totaling $44 million (£23m). The judge in
the case, Peter Noll, who will also preside over the Ecclestone case, says
the 83-year-old was the driving force behind the Gribkowsky affair. CVC also
suspend plans for an IPO in Singapore after market turmoil.
July 2013: Ecclestone is formally indicted on bribery charges in
Germany. F1’s octogenarian chief executive denies the allegations.
October 2013: Constantin Medien brings the case against Ecclestone and
others to London’s High Court.
November 2013: Donald Mackenzie, CVC co-founder, tells the court that
if Ecclestone is found to have done anything criminally wrong then he would
be fired.
January 2014: Prosecutors in Munich announced Ecclestone will go on
trial in April on charges of bribery. The 83-year-old steps down from the F1
board but retains day-to-day control of the sport.
February 2014: Ecclestone wins the High Court damages case, but Mr
Justice Newey finds the 83-year-old did make a “corrupt” deal. He also
concluded that Ecclestone was not a “reliable or truthful” witness.
April 24 2014: Ecclestone’s trial for bribery begins in Munich, and
will run through until September 2014.