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Court case against Ecclestone over F1 sale starts
Highlights
Court Case Against Bernie Ecclestone Over Formula One Sale Starts, London's High Court. Two days after Sebastian Vettel's fourth title triumph, the Formula One spotlight shifted to London's High Court and the latest case that leaves Bernie Ecclestone's future in doubt.
London: Two days after Sebastian Vettel's fourth title triumph, the Formula One spotlight shifted to London's High Court and the latest case that leaves Bernie Ecclestone's future in doubt. The longtime commercial head of F1 is already under investigation in Germany over an alleged payment of $44 million relating to the sale of the motorsport series in 2006.
A German court won't say until next year whether Ecclestone will stand trial on charges of bribery and incitement to breach of trust. German banker Gerhard Gribkowsky has already been jailed for taking the payment from Ecclestone. Gribkowsky was in charge of selling the bank BayernLB's stake in F1 to investment group CVC Capital Partners.
Now at a London court, former F1 shareholder, German media company Constantin Medien, is suing Ecclestone and two other defendants for up to $144 million, claiming F1 was undervalued at the time of the sale.
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