Monday, June 3, 2013

Mercedes could quit F1

Mercedes is not denying that they may pull out of Formula One over the Bernie Ecclestone corruption scandal.

DPA news agency reports that, when negotiating its new Concorde Agreement terms with Ecclestone, Mercedes parent Daimler inserted an exit clause relating to corruption.

F1 chief executive Ecclestone is expected to face bribery charges by Munich prosecutors over his $44 million payment to jailed former banker Gerhard Gribkowsky.

Christine Hohmann-Dennhardt, a member of Daimler’s board of management for integrity and legal affairs, confirmed the existence of the F1 contract clause.

“We would utilise the contract terms when it is necessary,” she is quoted as saying. 

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