News Details

Ecclestone refuses to settle with German bank

German bank BayernLB has threatened to sue Bernie Ecclestone for undervaluing Formula One as his lawyer says he has refused to settle with it according to an article in the Daily Telegraph by Christian Sylt.The dispute surrounds the sale of a controlling stake in F1 by BayernLB to the private equity firm CVC for £500m ($828m) in 2006. Last year Ecclestone was charged in Germany with paying a £26.6m ($44m) bribe to steer the sale to CVC and earlier this month he paid a settlement of £60.4m ($100m) to the prosecutors to end the case.BayernLB claims it lost out as higher bidders would have come forward if Ecclestone had not engineered the sale to CVC. He recently offered the...
Full Story »
11mo ago from Pitpass.com 0
Share

You May Also Be Interested In...

Bank wants more cash from Ecclestone for settlement

Bernie Ecclestone with Gerhard Gribkowsky during the 2005 Italian GP...
11mo ago from GrandPrix247.com

Bank ‘not closed’ to higher Ecclestone settlement

Bank ‘not closed' to higher Ecclestone settlementPosted On 22 Aug...
11mo ago from ThisIsF1.com

F1 boss Ecclestone pays to end trial

A German court has agreed to end the bribery trial of Formula 1 boss...
11mo ago from BBC.co.uk

Ecclestone: We will be there

Bernie Ecclestone insists Formula 1 will be in Russia later this season...
11mo ago from PlanetF1.com

Elsewhere On The Network

Popular On MotoGPToday.com

Salom Q&A: “I expected more really”

Paginas Amarillas HP40’s Luis Salom reflects on his season so far, his...
6h ago from MotoGP.com

Relive all of the action from the Catalan GP

Lorenzo made it four in a row in Catalunya, while Viñales recorded his...
6h ago from MotoGP.com

Honda apologise to Stoner for crash at Suzuka 8 Hours

HRC confirm Stoner crash in the Suzuka 8 Hours was due to throttle...
1d ago from MotoGP.com

Oliveira out to ‘complicate’ life for Moto3 leader...

Portugese Moto3 star Oliveira thinks Danny Kent has had it too easy this...
5h ago from BikeSportNews.com

Popular On IndyCarToday.com

Video: IndyCar drivers preview Mid-Ohio

No description available...
1h ago from GPUpdate.net

IndyCar: Honda gets manufacturer points deduction

Honda received a deduction of 100 manufacturer points from IndyCar for...
17h ago from Racer.com

IndyCar: Carlin continues to evaluate IndyCar program

Carlin Racing's introduction to American open-wheel racing has been as...
18h ago from Racer.com

IndyCar: Hondas gets manufacturer points deduction

Honda received a deduction of 100 manufacturer points from IndyCar for...
18h ago from Racer.com

Popular On TotalWRC.com

Neuville crash sparks big rebuild

Neuville crashed at a fast left bend near the end of his first pass...
4h ago from WRC.com

Recce Notes: Neste Oil Rally Finland

Finger postsCorner cutting is common practice in Finland as drivers use...
3h ago from WRC.com

Mental strength key for home favourite Latvala

Jari-Matti Latvala says mental strength will be essential in his bid for...
5h ago from Crash.net

Evans to 'prove' true pace at Rally Finland

Elfyn Evans says he's out to prove the capability of his M-Sport Ford...
3h ago from Crash.net

Popular On GunnersToday.com

Report: Fernando Llorente's agent in Arsenal talks

Fernando Llorente's agent has reportedly been in talks with Arsenal over...
4h ago from SportsMole.co.uk

Arsenal is the best place for new Gunners starlet to...

Arsenal forward Theo Walcott has told Jeff Reine-Adelaide he is at the...
58m ago from TalkSport.com

Arsenal star Laurent Koscielny pulls off stunning...

Arsenal star Laurent Koscielny pulls off stunning rabona in open training...
6h ago from DailyMail.co.uk

Mario Gotze names Arsenal star Jack Wilshere in...

Mario Gotze names Arsenal star Jack Wilshere in five-a-side team...
3h ago from DailyMail.co.uk

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.