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 »
1y ago from 0

You May Also Be Interested In...

Bank wants more cash from Ecclestone for settlement

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

Bank ‘not closed’ to higher Ecclestone settlement

Bank ‘not closed' to higher Ecclestone settlementPosted On 22 Aug...
1y ago from

F1 boss Ecclestone pays to end trial

A German court has agreed to end the bribery trial of Formula 1 boss...
1y ago from

Ecclestone: We will be there

Bernie Ecclestone insists Formula 1 will be in Russia later this season...
1y ago from

Elsewhere On The Network

Popular On

Lorenzo vows to defend Japan Prix, charge Rossi

Valentino Rossi is facing intensifying pressure from Yamaha teammate...
3h ago from

Video of the Day: Rossi flat out at ranch

No description available...
3h ago from

Lorenzo fourth on all-time MotoGP win list

Jorge Lorenzo's Aragon victory was his 39th in the MotoGP class, moving...
3h ago from

Rossi: I will have to give my all

The seven days since Aragon saw the MotoGP top three of Valentino Rossi,...
1d ago from

Popular On

Will Power honoured with Toowoomba Sprintcar race

Toowoomba Speedway has announced an event honouring local Verizon IndyCar...
3h ago from

Will Power honoured in hometown Toowoomba

The 2014 IndyCar Series champion Will Power has been honoured in his...
3h ago from

INDYCAR: Indy Lights champ Pigot looking through...

Championships have endowed Spencer Pigot’s steady progression through...
14h ago from

INDYCAR: Honda busy testing aero kit components

Honda has yet to confirm its return to IndyCar in 2016, but that hasn't...
1w ago from

Popular On

Drivers back FIA safety campaign

Crews join FIA president Jean Todt to target fans
19h ago from

What Corsica victory means to Latvala

Significance behind island success
1d ago from

Gilbert: Junior title 'a dream come true'

Frenchman sealed the title in Corsica
20h ago from

Evans' podium lift in Corsica

The Welshman and his co-driver Daniel Barritt were the surprise package...
1d ago from

Popular On

Barcelona youngster keen on £8.5m Arsenal switch

Barcelona midfielder Sergi Samper is apparently open to a move to Arsenal...
1h ago from

Ozil Admits It's A Pleasure To Be Teammate Of Mathieu...

It has been reported that Arsenal's Mesut Ozil admits it is a pleasure to...
2h ago from

Gossip: Samper, Boufal, Depoitre, Afobe

Samper wants Arsenal move, Spurs eye Boufal and Depoitre (us neither),...
27m ago from

7 pairs of former teammates we wish played together...

As much as football fans love to feast their eyes on fine individual play,...
3h ago from


comments powered by Disqus

Hottest News

Recent News

2014 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.