News Details

F1 was undervalued by £400m say prosecutors

Despite a UK judge ruling otherwise, and despite masses of evidence to the contrary from the seller, German prosecutors still believe that Formula One was undervalued when it was bought by the private equity firm CVC for £1.2bn ($2bn) in 2006. The claim is made in the indictment against F1's boss Bernie Ecclestone according to an article in the Sunday Express by Christian Sylt.It is one of the claims at the heart of Ecclestone's bribery trial, which is currently under way in Munich, and the alleged undervaluation is supported by testimony from John Gregg, the former chief financial officer of British telecoms firm NTL.Ecclestone and his Bambino family trust have been accused of...
Full Story »
2y ago from Pitpass.com 0
Share

You May Also Be Interested In...

Ecclestone offered me a bribe - banker

A jailed former German banker told a court on Tuesday that Formula One...
2y ago from SuperSport.com

Ecclestone offered me a bribe - banker

The High Court in Munich heard on Tuesday that Formula One supremo Bernie...
2y ago from PlanetF1.com

Ecclestone 'paid banker $44m bribe'

A jailed banker has told a court in Germany that Formula 1 boss Bernie...
2y ago from BBC.co.uk

Ecclestone corruption trial may run through July

A German banker allegedly bribed by Bernie Ecclestone must return to a...
2y ago from F1Pulse.com

Elsewhere On The Network

Popular On MGPToday.com

Analysis: How Mugello proved to Vinales Yamaha was the...

Yamaha-bound rider Maverick Vinales is certain he's made the right choice...
15h ago from Motorsport.com

Mugello Expert Opinion: Casey Stoner

Without doubt Andrea Iannone and the Desmosedici GP had the pace to run...

Video: Part two of ‘Valentino Rossi: The Doctor...

The second episode in the ‘Valentino Rossi: The Doctor Series’...
19h ago from MotorcycleNews.c...

Analysis: Why struggling Honda had to redesign its...

While Honda admits the deficiencies of its new MotoGP engine, the Japanese...
2d ago from Motorsport.com

Popular On IndyCarToday.com

Pippa Mann crashes on Carb Day

Dale Coyne Racing driver Pippa Mann crashed at Turn 4 45 minutes into the...
14h ago from Motorsport.com

Tony Kanaan leads the way in final Indy 500 practice

Chip Ganassi driver Tony Kanaan set the pace in final practice for this...
10h ago from GrandPrixTimes.c...

Franchitti on Chilton crash: "He doesn't know...

Chip Ganassi Racing team advisor Dario Franchitti isn't placing blame on...
2d ago from Motorsport.com

INDY 500: 'Anybody counts us out, it's a big mistake'...

Tony Kanaan says he was not surprised by the frenetic on-track activity...
9h ago from Racer.com

Popular On TotalWRC.com

Camilli buoyed by Portugal result

M-Sport driver reflects on fifth place finish
14h ago from WRC.com

Merzouga, Stage 5: Benavides wins as Rodrigues ends...

Honda's Kevin Benavides took win in the 2016 edition of Merzouga Rally at...
15h ago from Motorsport.com

The WRC gallery: Round 5: Portugal

Advertising Here is a selection of some of our favourite photographs,...
17h ago from WRC.com

Three Volkswagen Polo RX Supercars head for Lydden Hill

Volkswagen RX Sweden currently lie second in the World RX teams’...
1d ago from Motorsport.com

Popular On GunnersToday.com

President reveals Arsenal offer for South American...

Udinese president Franco Soldati has stated that Arsenal have made an...

The 15 most valuable midfielders in the Prem… which...

TARSPORT count down the 15 Premier League midfielders who would command...
3h ago from DailyStar.co.uk

Arsenal fans call on Arsene Wenger to beat Liverpool...

RSENAL fans have taken to Twitter to call on Arsene Wenger to sign Mario...
1h ago from DailyStar.co.uk

The 15 most valuable forwards in the Prem… which...

TARSPORT count down the 15 Premier League forwards who would command the...
1h ago from DailyStar.co.uk

Comments

Hottest News

Tech analysis: Could hollow spokes be F1's latest trick?

They believe ways have been found to lower the... Read More »
11h ago from Motorsport.com

Ferrari to be first with 2017 F1 test car

Ferrari looks set to get the jump on the F1 field... Read More »
19h ago from ThisIsF1.com

Honda monitoring Renault upgrade closely

Honda is keeping a close eye on Renault's power... Read More »
16h ago from F1i.com

Recent News

2014 GPToday.com
GPToday.com is not responsible for the news headlines and associated descriptions and images it indexes, the content of externally linked sites or the comments & postings of its users.

This website is unofficial and is not associated in any way with the Formula One group of companies. F1, FORMULA ONE, FORMULA 1, FIA FORMULA ONE WORLD CHAMPIONSHIP, GRAND PRIX and related marks are trade marks of Formula One Licensing B.V.