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Ecclestone offer rejected by German bank
German bank BayernLB has turned down a £20 million settlement offer from F1 supremo Bernie Ecclestone. The bank claims Ecclestone undervalued F1 when it was sold back in 2006. “BayernLB has rejected Mr Ecclestone's settlement offer,” a spokesman for BayernLB told Reuters on Friday. Eccelstone's lawyer in Munich has declined to comment. The news comes after a court in Munich agreed a settlement of around £60 million to end his bribery trial this week. The 83-year-old had been on trial since April. He was accused of paying German banker Gerhard Gribkowsky £26m to help ensure a stake in F1 was sold to a company he favoured. Ecclestone has always denied the charges and while he admitted...
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