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F1 boss rejects 'corrupt' sale claim

A damages claim against Formula 1 boss Bernie Ecclestone relies on the confessions of a 'fantasist' jailed banker, the High Court has been told. German media company Constantin Medien alleges that Mr Ecclestone deliberately undervalued F1 when BayernLB bank sold its 47% stake in the sport in 2005. Robert Miles QC, representing the Formula 1 chief executive, said: 'This is a case that simply does not add up.' Constantin said it lost out in the deal and is seeking about £90m in damages. 'Absolutely delighted' Mr Miles said his client would have had no interest in undervaluing F1 because Mr Ecclestone's family was selling its own 25% stake at the same price. Mr Ecclestone rejects Constantin's...
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8y ago from BBC.co.uk 0
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