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Lotus have revealed they have a 114m (pound i think) debt and the quantum deal has fallen through. They say everything is all good because of Faildonados money.

Don't really understand why no major sponsors wanted in on Lotus midway through last year, I can see why it doesnt seem so good now however. Might be downhill for Lotus unless Grosjean can keep them alive.

Bernie Ecclestone will step down as a director of Formula 1's management board, but he will continue running the sport.

German prosecutors announced on Thursday that Ecclestone will face a court hearing in Munich at the end of April to answer claims that he bribed German banker Gerhard Gribkowsky over the sale of F1 in 2006.

Although Formula 1's owners CVC are allowing Ecclestone to continue his day-to-day running of grand prix racing, a statement issued by Delta Topco Ltd stated that it has agreed in a board meeting on Thursday that he will step off the board.

"After discussions with the board, Mr Ecclestone has proposed and the board agreed that until the case has been concluded, he will step down as a director with immediate effect, thereby relinquishing his board duties and responsibilities until the case has been resolved," said the statement.

"The board believes that it is in the best interests of both the F1 business and the sport that Mr Ecclestone should continue to run the business on a day-to-day basis, but subject to increased monitoring and control by the board. Mr Ecclestone has agreed to these arrangements."

Ecclestone has routinely denied any wrongdoing over a payment he made to Gribkowsky, and reiterated his claims of innocence to the board in Thursday's meeting.

The statement added: "Mr Ecclestone has reassured the board that he is innocent of the charges and intends to vigorously defend the case which will commence in late April 2014."

Ecclestone's stepping down from the board means other senior management figures will now take a more direct role in the future direction of F1.

The statement added: "The approval and signing of significant contracts and other material business arrangements shall now be the responsibility of the Chairman, Mr Peter Brabeck-Letmathe, and Deputy Chairman, Mr Donald Mackenzie."

http://www.autosport.com/news/report.php/id/112156

Dennis was always a wanker. Sorry, what he did to DC and Montoya annoys the hell out of me. He got results in the 80s with Senna and Prost. He got results in the 90-00s due to Newey. Newey in part left because of what a miserable place Dennis made it.

So, lol yep, come on back Dennis.. I look forward to going back to hating McLaren rather than feeling sorry for them! And look forward to watching the messiah come back for all to realise that he is just a guy that was smart oenough to know he needed smarter more talented people around him.

  • Like 1
  On 16/01/2014 at 8:58 PM, JAS-25T said:

speaking of graves...

schui not doing too well

coma till he is dead.

His condition has been described as stable now

  On 17/01/2014 at 2:45 AM, dori34 said:

anyone seen this yet?

i like the sound of the turbo spool :)

http://www.youtube.com/watch?v=pXNLQQC_AGU

If they sound like this, I will be able to live with it :)

That could also be for Le Mans? Going up against webber and his Porsche?

Ron might have been a flamin mongrel but witmarsh has been a joke lol. I hope brawn down tend up back at mclaren, lauda was stupid to get rid of him but no surprise as he thinks he knows everything.

Rush was an ok watch if anyone hasn't seen it

Niki did the same thing to Bobby Rahal at Jaguar, came in as a consultant, told the Ford board that everything was being done wrong (even thought Rahal had managed to get Newey on board) ended up taking over the place and screwing it up.

Yeah I heard he has a track record of f**king things up, which is a shame. I'm looking forward to trying these new cars on f1 2014, hopefully it's on ps4.

Not long will we see these cars hit the track for testing :) I hope there is a few engines that blow in spectacular fashion there hasn't been nearly enough off that in recent years

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