Bernie Ecclestone is to step down as a director of Formula One’s holding company until court proceedings against the billionaire businessman are concluded.

Formula One boss Bernie Ecclestone told a British High Court judge yesterday that he did not make threats.

Bernie Ecclestone believes Formula One’s future is bright despite selling his stake in the sport.

Bernie Ecclestone will remain in control of Formula One, despite selling his shares in the sport’s parent company.

Bernie Ecclestone has sold his shares in Formula One’s parent company.