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Ecclestone appears in court
F1 boss Bernie Ecclestone appeared in the High Court in London on Wednesday and denied accusations of making a 'corrupt agreement' to ensure he remained at the helm of the sport. Ecclestone told the court that the payments made to German banker Gerhard Gribkowsky - reported to be around £27m - were an 'insurance policy'. The case has been filed by Constantin Medien, which is seeking damages of at least £90 million, arguing that BayernLB's 47 percent stake in F1 was undervalued when it was sold to CVC back in 2006. Philip Marshall QC, representing Constantin Medien, said last week that 'corrupt payments' had been made to Gribkowsky during the sale, a sale that took place 'without the...
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11y ago from GPUpdate.net
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