Fabiana Ecclestone buys historic 35m Portuguese mansion near Ronaldo

Fabiana Ecclestone, the wife of former Formula One chief Bernie Ecclestone, reportedly purchased a thirty-five million pound mansion in Portugal. The property offers stunning views of the Atlantic Ocean and stands as the largest private home sale ever recorded in the nation.

Respected daily Correio da Manhã described the transaction as a historic event within the country's real estate market. Negotiations took half a year to complete before the deal finalized three months ago. The negotiations involved the resort area of Quinta da Marinha located in Cascais, just fifteen miles west of Lisbon.

The previous owner was Marco Galinha, a Portuguese entrepreneur who founded the business group Grupo BEL. The new residence boasts impressive amenities including a large swimming pool, a tennis court, and an internal lift. Galinha was recently spotted dining at a local fish restaurant with two of his daughters.

Potential neighbors for the couple include Cristiano Ronaldo, the Portugal national team captain and former star for Real Madrid and Manchester United. Ronaldo owns a thirty million pound mansion on the same estate within the Sintra-Cascais Natural Park.

Fabiana, who is forty-six years younger than her ninety-five-year-old husband, discussed parenting their five-year-old son Ace last year. In an interview with German newspaper Bild, she stated, Bernie and I are a team and we're raising Ace as a team.

She noted that Bernie explains rules to Ace in his usual calm and quiet way. He tells his son he can only watch half an hour of television after finishing homework. She added that it is not easy to explain to Ace that online tablets and YouTube are only available on Tuesdays.

Fabiana believes it is a good idea for him to get his first mobile phone at twelve or fourteen. Bernie described Ace as a wonderful boy who is bright, curious, and interested in everything during an interview marking his own ninety-fifth birthday.

Ecclestone served as chief executive of Formula One until he was replaced by Irish-American Chase Carey in 2017. Last October reports suggested he was clearing out his life and wealth by selling two yachts. He confirmed the sale of his superyacht Petara, named after his children Petra and Tamara from his second marriage.

The vessel was previously valued at seventeen million pounds with annual running costs of one point seven million pounds. It is unknown who purchased the superyacht or for how much it eventually sold. Ecclestone told Bild, We just sold it, while Fabiana added, We only used it eight days in a year.

The father of four had already sold his collection of sixty-nine super cars to Red Bull co-owner Mark Mateschitz earlier in the year. Estimates suggested the collection was worth five hundred million pounds, though the final price was never revealed. Confirming the deal at the time, Ecclestone said, These are unique vehicles. They have written sport history and marked technical milestones.

A collection embodying seven decades of Formula One history has recently been sold, marking a significant shift in the stewardship of the sport's legacy. The transaction follows a high-profile legal battle in 2023 at a London court, where Bernie Ecclestone admitted to misleading authorities regarding his overseas assets and agreed to pay £750 million in back taxes.

The controversy centered on Ecclestone's interactions with HMRC investigators in July 2015. When questioned about his involvement in any trusts within or outside the UK, the billionaire responded that he was neither a settlor nor a beneficiary. Judge Bryan subsequently ruled this statement false, revealing that Ecclestone was in fact linked to two complex structures: the Kinan trust and the Nanki trust. As a result of these admissions, Ecclestone received a 17-month suspended sentence, avoiding jail time, though he acknowledged concealing £416 million from tax officials.

Ecclestone's legal representative, Clare Montgomery, defended her client's intentions, stating, "It was never his intention to avoid paying tax and he was simply unaware of the true position of his affairs at the time." This defense contrasts with the admission that the specific details regarding his financial structures had been hidden.

The sale of this historic collection comes after Ecclestone expressed deep personal satisfaction regarding its new custodians. "It means a great deal to me to know that this collection is now in the very best of hands," he remarked.

Ecclestone's rise to power began early; he left school at 16 and was operating a car dealership by age 21. He entered Formula One in 1972 by purchasing the Brabham team for £100,000. Leveraging his position on the board of the Constructors' Association, he subsequently acquired the sport's global television rights, which were then sold in more than 100 countries.

By the early 1990s, the valuation of Formula One had reached £2.5 billion, with Ecclestone earning an estimated £1 million per week. The organization was eventually sold to Liberty Media for £6.4 billion.