Ecclestone Fights $1.6 Billion Bill After Tax Deal Torn Up
Bernie Ecclestone, chief executive officer of Formula One Management and Formula One Administration, is fighting a long-running legal dispute.
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Bernie Ecclestone, chief executive officer of the Formula One racing series, faces a 1 billion-pound bill ($1.6 billion) after British tax collectors decided to tear up a 2008 settlement over a family trust.
The 84-year-old is fighting Her Majesty’s Revenue and Customs over the tax status of the family trust at the center of a bribery probe that threatened his role as head of F1.