Jul 17, 2013, 12:00 PM EDT
A German court’s two-year investigation into whether Formula One boss Bernie Ecclestone bribed a banker during the 2006 sale of the sport to CVC Capital Partners may finally be coming to a head.
Ecclestone told the Financial Times on Wednesday he had received an indictment. “It’s a pity it’s happened,” he said, adding he would “defend it properly”.
He plans to contest the charges, raising the prospect of another lengthy court battle. The relevant documents are currently being translated into English.
Gribkowsky was sentenced to eight-and-a-half years in prison last year following a nine-month trial during which Ecclestone admitted making payments to him. “He was shaking me down and I didn’t want to take a risk,” Ecclestone said at the time.
The threat of legal proceedings will be unwelcome for CVC, who are planning to float Formula One on the Singapore stock exchange. It is targeting a value of over $10 billion for the sport. An earlier attempt at an initial public offering was abandoned due to unfavorable economic conditions in Europe.
At the end of the year Ecclestone admitted CVC “will probably be forced to get rid of me” if he were to face charges over the bribery allegations.
Ecclestone also faces charges in the UK that some F1 rights were sold at below their true value.
Apr 19, 2014, 1:45 AM EDT
Could Fernando Alonso or Sebastian Vettel take advantage of the wet track to snatch pole position?
Apr 19, 2014, 12:45 AM EDT
Report reveals that Red Bull failed to supply accurate data, and what was supplied actually undermined the team’s argument.
Apr 19, 2014, 12:02 AM EDT
Red Bull driver fastest in a quiet final session ahead of qualifying later today.
Apr 18, 2014, 8:32 PM EDT
Significant modifications to the Cup cars’ powerplants are likely to come within the next two seasons.
Apr 18, 2014, 7:00 PM EDT
The two Andretti Autosport drivers appear to have put Sunday’s wreck behind them.
Apr 18, 2014, 5:30 PM EDT
You can’t say these drivers don’t have a sense of humor.
Apr 18, 2014, 4:15 PM EDT
The second round of the championship in Putrajaya, Malaysia will see drivers contest a short, 1.6-mile street circuit.
Apr 18, 2014, 3:15 PM EDT
Two races into his return to open-wheel, the former Indy 500 winner says he’s having a tough time with re-learning tracks.
Apr 18, 2014, 3:00 PM EDT
Here’s a look at the grid based on average qualifying positions through 2 races in 2014.
Apr 18, 2014, 2:00 PM EDT
IndyCar drivers do their best “hey, this is what this sounds like!” imitations.
Apr 18, 2014, 1:21 PM EDT
Two practice sessions begin a new year for the WEC.
Apr 18, 2014, 12:15 PM EDT
Making the V6s louder might not be such an easy fix.
Apr 18, 2014, 11:30 AM EDT
German driver not yet happy with his own performance in China, but his long run pace suggests that a podium finish may be within his reach.
Apr 18, 2014, 10:30 AM EDT
Rookie errors from Lotus driver no big deal, apparently.
Apr 18, 2014, 9:30 AM EDT
Mattiacci thought that job offer was a late April Fools joke at first; says that necessary changes will take place.
Apr 18, 2014, 8:30 AM EDT
Spanish driver puts in an impressive display during practice, but warns that rain could scupper Ferrari’s chances of reaching the podium.
Apr 18, 2014, 7:30 AM EDT
Yasuhia Arai reveals some more information about Honda’s decision to return to F1 and the Japanese marque’s plans for the future.
Apr 18, 2014, 6:45 AM EDT
Hamilton keen on the team correcting handling issues before qualifying tomorrow.
Apr 18, 2014, 3:32 AM EDT
Mercedes returns to the top of the timesheets, but Ferrari and Alonso are in close company.
Apr 18, 2014, 1:45 AM EDT
Can Mercedes fight back and resume normal service?
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