Former motor racing chief Andrew Craig has tipped F1’s owners to “sit tight” rather than float the sport while Bernie Ecclestone is embroiled in the Gerhard Gribkowsky bribery scandal.<\/p>\n
While German prosecutors are currently considering whether to charge F1’s long-time chief executive with corruption, owner CVC has delayed the stock market floatation of its sport, ostensibly due to adverse market conditions.<\/p>\n
But Craig, who was CEO of the now-defunct US open wheeler series CART throughout the category’s premier success until 2000, has told leading F1 business journalist Christian Sylt that he sees a link between the stalled floatation and Ecclestone’s legal troubles.<\/p>\n
“CVC’s best option,” he told Sylt, “may be to sit tight until after the criminal case is resolved.”<\/p>\n
And that, according to widespread sources and even Ecclestone himself, could take a long time.<\/p>\n
Ecclestone told Sylt and Eurosport: “I don’t see how it (the case) can come to an end really.”<\/p>\n
Sylt quoted someone close to CVC as saying: “It’s hard to know (if the prosecutors are going to press charges against Ecclestone).<\/p>\n
“Bernie is pretty blase about it.\u00a0 It’s hard to know to be honest.”<\/p>\n
It was reported in the German press earlier in October that one solution could be Mercedes recruiting other influential players in F1 to push for Ecclestone’s removal as chief executive.<\/p>\n
“We would not wait for a months-long process, but (we) would act,” a Mercedes source told the Suddeutsche Zeitung newspaper.<\/p>\n
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