Skip to content

Ecclestone faces new investigation as High Court trial begins

Oct 30, 2013, 9:00 AM EST

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: Top drivers of 2014 – No. 20 Austin Dillon

    Dec 20, 2014, 1:00 PM EST

    NASCAR Sprint Cup Sylvania 300 At NH Motor Speedway Getty Images

    Dillon made a big first impression and then quietly learned the ropes in Sprint Cup.

  2. NASCAR: Top drivers of 2014 – No. 19 Clint Bowyer

    Dec 20, 2014, 12:00 PM EST

    (Patrick Smith/Getty Images) Getty Images

    Clint Bowyer endured the worst season of his Sprint Cup career in 2014. He hasn’t won a race since 2012, but 2015 could be a comeback year for him.

  3. NHRA: Brittany Force set for 2015 to be her year in Top Fuel

    Dec 19, 2014, 9:45 PM EST

    Brittany Force. (Photos courtesy of Ron Lewis Photography) Brittany Force. (Photos courtesy of Ron Lewis Photography)

    Daughter of legendary Funny Car champ John Force, Brittany Force is out to prove that 2015 will be her year in NHRA Top Fuel racing.

  4. Michael Schumacher’s son, Mick Jr., has ‘secret’ F4 test

    Dec 19, 2014, 6:55 PM EST

    mick schumacher jr.

    Michael Schumacher’s son, Mick Jr., spent a recent testing day in a Formula 4 car, a possible prelude to following in his famous father’s footsteps.

  5. Ganassi places faith in youngsters Kimball, Karam by putting them in No. 01 car

    Dec 19, 2014, 4:00 PM EST

    CGRdaytona Getty Images

    Rare, intriguing call for CGR to put two lesser-experienced drivers in No. 01 car.

  6. Williams recaps incredible 2014 campaign (VIDEO)

    Dec 19, 2014, 3:00 PM EST

    AUTO-PRIX-F1-ABU-DHABI-PODIUM Getty Images

    Williams’ stellar 2014 season, recapped in pictures and words.

  7. Top NASCAR stories of 2014: No. 12 – Newman, Kenseth winless but still successful

    Dec 19, 2014, 2:15 PM EST

    Hollywood Casino 400 - Practice Getty Images

    Ryan Newman and Matt Kenseth proved that consistency still pays.

  8. Report: The Sprint Experience will not return in 2015

    Dec 19, 2014, 1:49 PM EST

    sprint cup logo

    The fan-favorite Sprint Experience at NASCAR tracks across the country is apparently no longer, according to a media report.

  9. NASCAR: Top drivers of 2014 – No. 18 Jamie McMurray

    Dec 19, 2014, 1:30 PM EST

    NASCAR Sprint All-Star Race Getty Images

    McMurray shined at the All-Star Race in May but missed out on a 2014 Chase berth.

  10. NASCAR: Top drivers of 2014 – No. 17 Kyle Larson

    Dec 19, 2014, 12:57 PM EST

    (David Becker/Getty Images) Getty Images

    Kyle Larson had a tremendous rookie season in 2014. If he was that good this season, imagine how much better he’ll be next season and seasons to come.

  11. Felipe Nasr goes with 12 for his F1 car number

    Dec 19, 2014, 12:30 PM EST

    F1 Grand Prix of Brazil - Previews Getty Images

    Felipe Nasr’s No. 12 rounds out the F1 grid number choices for 2015.

  12. Vergne joins Ferrari as a test driver

    Dec 19, 2014, 12:00 PM EST

    Canadian F1 Grand Prix - Previews Getty Images

    Jean-Eric Vergne signs with Ferrari as a test and development driver, which means a bunch of simulator work.

  13. RC Enerson confirmed for Indy Lights with Schmidt Peterson

    Dec 19, 2014, 11:17 AM EST

    IndyLights

    RC Enerson moves up from USF2000 to Indy Lights.

  14. NASCAR: Kid Rock to perform pre-race show at 2015 Daytona 500

    Dec 19, 2014, 11:00 AM EST

    2014 Louder Than Life Festival - Day 2 Getty Images

    Multiplatinum artist to rock out before 2015 running of the Great American Race.

  15. NASCAR Canadian Tire Series 2015 schedule released

    Dec 18, 2014, 9:51 PM EST

    Canadian tire series logo

    It lasts only four months, but there’ll be lots of action on the schedule for the 2015 NASCAR Canadian Tire Series.

  16. Ricky Stenhouse Jr. to do a little pre-Christmas dirt tracking Saturday in Illinois

    Dec 18, 2014, 9:26 PM EST

    (Tom Pennington/Getty Images) Getty Images

    Ricky Stenhouse Jr. will be slinging some pre-Christmas dirt this Saturday in an all-star sprint car race in DuQuoin, Ill.

  17. Kurt Busch sponsor supports him ‘110 percent’ in dispute with ex-girlfriend

    Dec 18, 2014, 8:50 PM EST

    (Jerry Markland/Getty Images) Getty Images

    One of Kurt Busch’s sponsors has joined team owner Gene Haas in backing the driver in his ongoing dispute with ex-girlfriend Patricia Driscoll.

Video from NASCAR America

NASCAR America's 2014 blooper reel
Top 10 NASCAR Driver Searches
  1. C. Coughlin (1903)
  2. K. Busch (1710)
  3. B. Vickers (1702)
  4. A. Self (1643)
  5. D. Suarez (1424)
  1. M. Tifft (1375)
  2. D. Armstrong (1361)
  3. J. Boston (1342)
  4. K. Busch (1266)
  5. L. Cassill (1188)