Ecclestone, meanwhile, quelled the threat from some racing teams to set up a rival series. At one point during negotiations, team owners said CVC’s share, at 40 percent of earnings, should be no higher than 10 percent, according to Adam Parr, former chief executive officer of the Williams F1 team. That sharp a reduction likely would have left CVC struggling to repay its loans.

Split Revenue

Ecclestone eventually gave the teams a split of all F1 revenue, not just television sales. That has almost doubled some teams’ take over the past five years. In turn, the teams committed to racing only with F1 for another decade.

“I thought I knew how I could handle that situation and they allowed me to, which I subsequently did successfully,” Ecclestone said of the negotiations.

That stability allowed him to push the sport into new countries including Abu Dhabi, Bahrain and China. Sales of TV rights increased from $1 billion in 2010 to $1.3 billion in 2014, the most recent year available, according to filings at the U.K.’s companies house. Earnings before interest, taxes, depreciation and amortization rose from $818 million in 2006 to $1.1 billion in 2014, according to data provider Formula Money.  While Ecclestone was hailed for his strategic moves, he remained a reputational handful for CVC.

Charged, Sued

In 2013, Ecclestone was charged in Germany and sued in the U.K. for paying a German banker to influence the sale of BayernLB’s stake in Formula One. He was accused of paying the banker $44 million to steer the sale toward CVC, which had promised to keep Ecclestone as Formula One CEO.

Admitting the payment, Ecclestone said it wasn’t a bribe, but a means to silence the executive from disclosing possible tax violations in his family affairs.

The matter ended in 2014, when Ecclestone agreed to pay a $100 million fine in Germany. A London judge dismissed the suit, even while calling the payment “a bribe.”

The controversy derailed CVC’s plan for an IPO in Singapore and saw Ecclestone temporarily removed from the Formula One board. Now, at 85, he’s fully back in charge, even counting the takings from concession stands personally during races, according to people familiar with the matter.