F1's Ecclestone allegedly paid team owners $10M bribes to pass Concord Agreement

It's come out that Bernie Ecclestone, the chief executive of Formula One, paid three team principals - Eddie Jordan, Alain Prost and the late Tom Walkinshaw - $10 million each to sign the 1998 Concorde Agreement. Concorde being a commercial rights agreement that governs the split of monies generated by the sport between the FIA, the teams and the Formula One Administration. This is yet another blow in Ecclestone's on-going trial over bribery charges to a German banker, although the English billionaire hardly seems concerned over the revelation. First, a bit of background.

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