Skip to content

Ecclestone faces new investigation as High Court trial begins

Oct 30, 2013, 9:00 AM EDT

AUTO-PRIX-SIN-F1 Getty Images

Bernie Ecclestone is standing trial accused of arranging a sale of Formula One in 2005 which was below its market value in order to retain his control of the sport.

Constantin Medien, formerly a stakeholder in F1, has brought the case alleging Ecclestone’s $820m sale to CVC Capital Partners undervalued the property, losing them money. The German media company is seeking over $100m in damages.

Ecclestone, who did not attend the first day of proceedings in London’s High Court yesterday, refutes the charges. He has already been indicted in Germany for paying $44m to jailed banker Gerhard Gribkowsky.

Constantin Medien’s lawyers argued the indictment showed Ecclestone had participated in a “corrupt bargain” but Mr Justice Newey said it was “hard to see about how the indictment can play any role in these proceedings”.

While Ecclestone remains embroiled in legal deliberations in Germany another front in his contests with the courts has opened in Switzerland. An investigation will probe the nature of Ecclestone’s payment to Gribkowsky to judge whether it violated Swiss law.

The cases are being closely watched to see what details of Formula One’s clandestine and labyrinthine finances are revealed, and whether Ecclestone’s position as chief executive officer of Formula One Group is placed in jeopardy. He has previously admitted CVC would “probably have to get rid of me” if he were convicted.

Latest Posts
  1. NASCAR AMERICA: Parity among Chase teams in Eliminator Round (VIDEO)

    Oct 20, 2014, 9:30 PM EDT

    Geico 500 Getty Images

    Six different teams are represented among the eight remaining Chasers, and NASCAR’s post-season is starting to resemble another familiar tournament. NASCAR AMERICA’s Kyle Petty and Jeff Burton discuss.

  2. NASCAR AMERICA: Is Ryan Newman’s Chase status up in the air? (VIDEO)

    Oct 20, 2014, 8:32 PM EDT

    Hollywood Casino 400 - Practice Getty Images

    Newman, one of the “Eliminator 8,” may be penalized tomorrow by NASCAR after his car was found to be too low following Sunday’s race at Talladega. Nate Ryan has more on the situation.

  3. Everything you need to know about the 2014 Chasers at Martinsville

    Oct 20, 2014, 7:15 PM EDT

    Goody's Headache Relief Shot 500 Powered By Kroger Getty Images

    Notes and numbers to keep in mind as the 8 remaining Chasers prepare to begin the Eliminator Round.

  4. WATCH LIVE: NASCAR AMERICA at 7 p.m. ET recaps Talladega

    Oct 20, 2014, 6:15 PM EDT

    nascar america

    Recapping Talladega on NASCAR AMERICA.

  5. Despite elimination, Kyle Busch’s crew chief says Chase format is fair

    Oct 20, 2014, 6:01 PM EDT

    Geico 500 Getty Images

    A great post-season for Busch was erased by a mid-race crash on Sunday at Talladega, but crew chief Dave Rogers says there’s no point in blaming the rules of the new Chase.

  6. Remembering racing legend Raymond Beadle: ‘Once upon a time, I was the best at what I did’

    Oct 20, 2014, 3:50 PM EDT

    Raymond Beadle, who passed away Monday at the age of 70. (Photo courtesy Dave Rieff, ESPN) Raymond Beadle, who passed away Monday at the age of 70. (Photo courtesy Dave Rieff, ESPN)

    They say they always do things bigger in Texas, and that phrase would perfectly describe legendary former drag racer and NASCAR team owner Raymond Beadle.

  7. Doug Coby earns second NASCAR Whelen Mods title in three years

    Oct 20, 2014, 3:07 PM EDT

    NASCAR Whelen Modfiied Tour - Sunoco World Series 150 presented by Xtra Mart  - Thompson Getty Images

    Coby finishes 17th in the season finale at Thompson (Conn.) Speedway, but earns the 2014 series title by 22 points over race winner Ryan Preece.

  8. 3-time NHRA champ, NASCAR team owner Raymond Beadle dead at 70

    Oct 20, 2014, 2:00 PM EDT

    Photo courtesy: BlueMaxRacing.net Photo courtesy: BlueMaxRacing.net

    Beadle helped bring the “Blue Max” brand to prominence in drag racing, and guided NASCAR legend Rusty Wallace to his lone Winston Cup title.

  9. DTM champion Marco Wittmann to test for Toro Rosso

    Oct 20, 2014, 1:45 PM EDT

    WittmannDTM Getty Images

    DTM champion will test for Toro Rosso.

  10. Penske’s dream season still alive in Sprint Cup

    Oct 20, 2014, 1:15 PM EDT

    PenskeDega Getty Images

    Both of Team Penske’s drivers advance to Eliminator round of Chase, which saves the ignominy of one of the winningest drivers this year going home.

  11. FIA creates accident panel to investigate Jules Bianchi crash

    Oct 20, 2014, 12:45 PM EDT

    AUTO-PRIX-F1-ENG-SILVERSTONE Getty Images

    The organization says it will make a full presentation on its findings during the next World Motor Sport Council meeting in December.

  12. Weekend wrap: Brad Keselowski rises up to Talladega challenge

    Oct 20, 2014, 12:15 PM EDT

    Geico 500 Getty Images

    Love him or loathe him, Keselowski deserves respect for coming through in the clutch like he did on Sunday.

  13. Besides Cassill, several others score season-bests at Talladega

    Oct 20, 2014, 11:45 AM EDT

    WaltripDega2 Getty Images

    After Cassill, Kvapil’s sixth leads a quartet of more surprise drivers in top-20 Sunday at Talladega.

  14. Daniel Ricciardo makes a trip to Supercross in Las Vegas (PHOTOS)

    Oct 20, 2014, 11:20 AM EDT

    F1 Grand Prix of Singapore - Qualifying Getty Images

    Ricciardo comes to the U.S. early for Supercross.

  15. The irony of a winless driver winning a title in the new Chase still exists

    Oct 20, 2014, 11:00 AM EDT

    NewmanKenseth Getty Images

    A potential nightmare situation for Sprint Cup’s new Chase still exists, in the form of two as-yet winless drivers still battling for a title in 2014.

  16. Landon Cassill posts career-best fourth place at Talladega

    Oct 20, 2014, 10:00 AM EDT

    CassillDega2

    Career day for Landon Cassill ends not only with his first Cup top-five, but first top-10.

Video from NASCAR America

Terry Labonte's milestone race
Top 10 NASCAR Driver Searches
  1. B. Keselowski (2210)
  2. K. Busch (1981)
  3. J. McMurray (1436)
  4. T. Stewart (1307)
  5. J. Gordon (1288)