Bernie Ecclestone sells historic Formula 1 treasures: a legacy in danger!

Bernie Ecclestone sells historic Formula 1 treasures: a legacy in danger!

Former Formula 1 boss Bernie Ecclestone is entering a new phase of his life by selling his impressive collection of 69 historic Formula 1 cars. This extraordinary compilation, estimated to be worth “hundreds of millions” of dollars, includes not only the legendary Ferrari F2002 in which Michael Schumacher won his fifth world title, but also other valuable rarities such as Alberto Ascari’s Italian GP-winning 375 F1 and the controversial Brabham BT46B “fan car”. Ecclestone himself said: "I love all my cars, but it's time I thought about what will happen to them when I'm gone," said the 94-year-old.

The sale is being handled by well-known dealer Tom Hartley Jr., who described the collection as “the history of Formula One.” Hartley praised the uniqueness of these cars, many of which have not been around for decades. Ecclestone, who was ousted as Formula 1 chief executive by Liberty Media in 2017, wants to ensure his passion for the cars is not just left as a legacy for his wife. But the British ex-Formula 1 boss also hit the headlines because of financial difficulties: He pleaded guilty last year to failing to declare over 400 million pounds (about $509 million) of assets in a trust in Singapore and now has to pay back almost 653 million pounds (about $830 million) to the British tax authorities.

A life's work in danger

This action follows a one-year prison sentence, which was suspended. Ecclestone had a controversial career that began in the 1950s when he raced himself before managing unsuccessful drivers. However, his self-evident abilities as a collector and administrator of Formula 1 history remain undisputed. “There has never been a collection like this, and it will probably never be offered for sale again,” Hartley added, underscoring the exclusivity of the vehicles. The good fortune of owning some of the best cars of their time is now combined with the need to clean up assets and, if necessary, pay off debts, casting the aging tycoon's social status in a new light. “I want to know where they are,” stressed Ecclestone as he plans his next course of action.