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

Bank ‘not closed’ to higher Ecclestone settlement

Bank ‘not closed' to higher Ecclestone settlementPosted On 22 Aug...
2y 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...
2y ago from BBC.co.uk

Ecclestone: We will be there

Bernie Ecclestone insists Formula 1 will be in Russia later this season...
2y ago from PlanetF1.com

Elsewhere On The Network

Popular On MGPToday.com

MotoGP: Honda rumoured to be experimenting with big...

While most of the MotoGP paddock headed home to take a few days’...
11h ago from MotorcycleNews.c...

Lorenzo could be in trouble - Crutchlow

Cal Crutchlow believes that Jorge Lorenzo is showing signs of being...
19h ago from SuperSport.com

Crutchlow: Ducati needs Marquez, not Lorenzo, to be...

Former Ducati factory rider Cal Crutchlow says the Italian marque should...
1d ago from Motorsport.com

Analysis: Why Honda's rise should make Yamaha worried

With Marc Marquez now on the brink of a third MotoGP title, Yamaha must...
16h ago from Motorsport.com

Popular On IndyCarToday.com

Power lauds Pagenaud as ‘deserving champion’

Toowoomba IndyCar star Will Power says he is happy to see his Team Penske...
3h ago from SpeedCafe.com

Honda's 2017 IndyCar team lineup still not finalized

Honda Performance Development president Art St. Cyr has admitted the...
8h ago from Motorsport.com

Tickets to Honda Indy Toronto now on sale for renewal...

Race fans who held two-day reserved grandstand seats for the 2016 Honda...
10h ago from Motorsport.com

Ed Carpenter Racing Confirms Newgarden's Departure

Josef Newgarden's future took a step toward confirmation on Thursday when...
24m ago from OpenWheelWorld.n...

Popular On TotalWRC.com

Mikkelsen happy with Polo R setup in Tour de Corse...

Andreas Mikkelsen was happy with the setup of his Volkswagen Polo R WRC...

Victory is only objective for Ogier in Corsica

Sébastien Ogier is focused on securing victory at the 2016 Tour de Corse...
11h ago from TheCheckeredFlag...

Toyota partners with Microsoft for 2017 WRC return

Toyota has announced a technology partnership with Microsoft for 2017, the...
13h ago from Motorsport.com

Latvala claims second place in Shakedown at 2016 Tour...

Jari-Matti Latvala claimed second place in Shakedown at the 2016 Tour de...

Popular On GunnersToday.com

Report: Arsenal, Liverpool watch Gregoire Defrel

Arsenal and Liverpool are both reportedly interested in signing Sassuolo...
11h ago from SportsMole.co.uk

Arsene Wenger should be given three more years in...

Arsene Wenger should be given three more years in charge of Arsenal......
2h ago from DailyMail.co.uk

Holding and Chambers make England U21 squad

Calum Chambers, currently on loan at Middlesbrough, and Rob Holding have...
11h ago from News.ArseBlog.com

Comments

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.