News Details

CVC boss says Ecclestone drove hard bargain over F1 sale

Bernie Ecclestonewith Donald Mackenzie Formula 1 supremo Bernie Ecclestone persuaded private equity fund CVC to double its initial valuation when it was buying a stake in the motor racing business, CVC's co-chairman told a German court on Wednesday. Ecclestone, 83, is on trial for bribery, accused of channelling $44 million to a German banker in return for smoothing the sale to CVC which became the largest shareholder in Formula One in 2006. Ecclestone, who denies wrongdoing, could face up to 10 years in prison if found guilty and a conviction would end his long grip on a business he helped to create. The prosecution alleges that Ecclestone wanted CVC to take control as it meant he could...
Full Story »
1y ago from GrandPrix247.com 0
Share

You May Also Be Interested In...

Ecclestone's bribery trial extended

Bernie Ecclestone Formula 1 chief executive Bernie Ecclestone's Munich...
1y ago from GrandPrix247.com

Witness gives Ecclestone good day in court

Bernie Ecclestone's defence got a boost on Tuesday, as the corruption...
1y ago from GrandPrix.com

Ecclestone has a good day in court

Bernie Ecclestone in court Formula 1 supremo Bernie Ecclestone had a good...
1y ago from GrandPrix247.com

Another witness backs Ecclestone's bribery defence

Bernie Ecclestone with Gerhard Gribkowsky during the 2005 Italian GP...
1y ago from GrandPrix247.com

Elsewhere On The Network

Popular On MotoGPToday.com

Rossi: “Reclaiming the lead in the championship is...

Starting in fourth, Valentino Rossi has positioned himself perfectly to...
4h ago from MotoGP.com

Rossi On Target with Second Row Start

Valentino Rossi says he achieved his aim prior to the qualifying session...

MotoGP Silverstone - Full Qualifying Results

Marc Marquez takes pole at Silverstone with new pole record. Jorge...
9h ago from Crash.net

Marquez Smashes Record to take Silverstone Pole

Marc Marquez set the fastest ever two-wheeled lap of Silverstone to claim...

Popular On IndyCarToday.com

IndyCar: Drivers taking Stefan Wilson under their wing

In the wake of Justin Wilson's death earlier this week, most of the...
4h ago from Racer.com

IndyCar: Hunter-Reay tops final practice at Sonoma

Andretti Autosport-Honda’s Ryan Hunter-Reay led an American 1-2-3 in...
4h ago from Racer.com

Sonoma: Practice 2 results

Fast Saturday practice sees Hunter-Reay on top Practice 2 times 1. Ryan...
4h ago from Crash.net

Justin Wilson tributes, auctions, merchandise: Where...

There have been many tributes and benefit announcements regarding the...
6h ago from Racer.com

Popular On TotalWRC.com

Meeke: 'I have to continue working'

Brit counting on an error-free Australia
1d ago from WRC.com

F1 ace Jenson Button tests Mini and VW Beetle...

Formula 1 star Jenson Button tested rallycross cars at Lydden Hill today...
3d ago from Motorsport.com

Loeb says WRC return not in his plans

Sebastien Loeb says that a return to the WRC is not part of his plans,...
2d ago from Motorsport.com

Lefebrve handed second Citroen WRC outing

Stephane Lefebvre has been handed his second opportunity in the WRC with...
1d ago from Crash.net

Popular On GunnersToday.com

Football's summer spending set to hit £1BILLION as...

FOOTBALL'S summer spending spree is set to nudge a record £1BILLION by...
1h ago from Express.co.uk

Newcastle 0 Arsenal 1: Five things we learned

GETTY OFF: Aleksandar Mitrovic saw red Mitrovic needs to mend his way...
3h ago from DailyStar.co.uk

Arsenal complete signing of striking starlet, but wait...

Arsenal have signed 15-year-old Harry Clarke from Ipswich Town. The...
4h ago from CaughtOffside.com

Arsenal: Arsene Wenger ‘working on’ transfer swoop...

Arsenal coach Arsene Wenger has admitted that his side are ‘working...
4h ago from CaughtOffside.com

Comments

comments powered by Disqus

Hottest News

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.