Bernie

“By this point in time, Bernie's various companies, and there are even many more than we have talked about on this episode, just for simplicity. Collectively, they're earning about two hundred and fifty million British pounds a year in revenue, and they have 50…”

“In 2023, Bernie ultimately pleaded guilty to tax fraud as a result of all the machinations we're about to talk about, and had to pay a six hundred and fifty three million pound payment to the crown in back taxes and fines.”

“So in this first Concord Agreement, the two sides, Bernie and the Constructors Association and the FIA and Racetracks by proxy, agree on Four things. One, the FIA will have full unilateral and unchallenged jurisdiction over the rules of the sport going forward…”

“In 1972, Bernie buys the Brabham F-One team for a 100,000 British pounds, which would be about 2.3 million dollars today.”

“So he switches banks to Morgan Stanley and convinces them that instead of IPO-ing, they should issue debt on F-one and use the proceeds from the debt to pay himself and his new offshore entities a special 1.4 billion dollar dividend secured by The future TV ri…”

“In addition to these agreements that Bernie was having everyone sign, race organizers were required to surrender income from trackside advertising and corporate hospitality. To Formula One owned entities. So this now means that the race organizer, the track bu…”