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 »
2y 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...
2y ago from GrandPrix247.com

Witness gives Ecclestone good day in court

Bernie Ecclestone's defence got a boost on Tuesday, as the corruption...
2y ago from GrandPrix.com

Ecclestone has a good day in court

Bernie Ecclestone in court Formula 1 supremo Bernie Ecclestone had a good...
2y ago from GrandPrix247.com

Another witness backs Ecclestone's bribery defence

Bernie Ecclestone with Gerhard Gribkowsky during the 2005 Italian GP...
2y ago from GrandPrix247.com

Elsewhere On The Network

Popular On MGPToday.com

Bradl to exit MotoGP at the end of 2016

– Stefan Bradl has confirmed that he will leave MotoGP at the end...
1h ago from GPUpdate.net

MotoGP: Crutchlow silences the critics

Cal Crutchlow has silenced his critics by taking a stunning debut MotoGP...

Opinion: Rossi screw-up ends title chances?

To call Sunday’s MotoGP race an unmitigated disaster for the factory...

MotoGP: Cecchinello ‘We needed that finish’

LCR Honda team boss Lucio Cecchinello admitted to MCN after last...

Popular On IndyCarToday.com

Enerson gets IndyCar debut with Dale Coyne

– RC Enerson will make his IndyCar debut at Mid-Ohio this weekend...
6h ago from GPUpdate.net

INDYCAR: 'I enjoy downforce cars more' - Frijns

Robin Frijns gave his Andretti Autosport team plenty to think about after...
20h ago from Racer.com

INDYCAR: Schmidt sues Enerson’s father

Team owner Sam Schmidt has sued Neil Enerson, the father of his former...
18h ago from Racer.com

Schmidt Peterson files lawsuit against Enerson

RC Enerson, due to make his IndyCar debut with Dale Coyne Racing this...
23h ago from Motorsport.com

Popular On TotalWRC.com

Rautiainen on Finland’s unique co-driving test

Rautiainen on Finland’sunique co-driving test Co-driving great Timo...
4h ago from WRC.com

Hyundai solves Sordo crash cause

Nandan confident suspension issue is sorted
21h ago from WRC.com

OlsbergsMSE won't field GRC-spec Honda Civic in Canada...

Swedish World Rallycross team OlsbergsMSE will not field its Honda Civic...
1d ago from Motorsport.com

Finland countdown: the route

The same. But better.
20h ago from WRC.com

Popular On GunnersToday.com

Arsenal and West Ham transfer war: £10m more will get...

According to reports from Mirror Football, Lyon are demanding a...

Bundesliga giants prepared to offload Arsenal...

Bayer Leverkusen are prepared to offload their star asset Hakan...
3h ago from CaughtOffside.com

Gazidis: Arsenal and Man Utd can't bully smaller clubs...

GETTY TOUGH: Ivan Gazidis (right) thinks the transfer market has changed...
4h ago from DailyStar.co.uk

Expect a striker & defender says Arsene. Yedder...

Morning all. The squad is in the US of A, the friendly against the MLS...

Comments

Hottest News

Allison and Ferrari part ways with immediate effect

The Briton's place at the team had been in doubt... Read More »
5h ago from Motorsport.com

What next at Ferrari?

The news of James Allison's departure doesn't... Read More »
4h ago from Pitpass.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.