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Ecclestone future hangs on trial verdict
Formula One boss Bernie Ecclestone has revealed that a £240m ($400m) lawsuit against him will get the red light if he wins a High Court trial which finished last month writes Christian Sylt in the Independent.German media rights firm Constantin Medien claimed in court that Ecclestone and his Bambino family trust paid a £26.7m ($44m) bribe to undervalue a 47.2% stake in F1 when it was sold by German bank BayernLB to private equity firm CVC in 2006. The money was paid to BayernLB banker Gerhard Gribkowsky and Constantin says that in return he steered the sale of F1 to CVC as it had agreed to retain Ecclestone as the boss of the sport.CVC bought the stake for £494.8m ($814m)...
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12y ago from Pitpass.com
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