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Ecclestone takes the stand in F1 payment case
Bernie Ecclestone defended himself Wednesday at the High Court in London against allegations he made a "corrupt" payment to protect his position running Formula One. Former F1 shareholder Constantin Medien, a German media company, is suing Ecclestone and other defendants for up to $144 million, claiming F1 was undervalued at the time the BayernLB bank sold its stake. Ecclestone is accused of making a "corrupt bargain" with BayernLB's Gerhard Gribkowsky, paying $44 million to ensure the bank's 47 percent stake was sold in 2005 to a buyer of Ecclestone's choosing, investment group CVC Capital Partners. In the second week of the civil trial, the 82-year-old Ecclestone...
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10y ago from SuperSport.com
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