Oct 30, 2013, 9:00 AM EDT
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.
May 22, 2015, 3:39 PM EDT
Tristan Vautier recaps a roller coaster month of May, where he’ll have a last-minute opportunity to race in the Indianapolis 500 with Dale Coyne Racing.
May 22, 2015, 3:30 PM EDT
A third straight feature race win for Stoffel Vandoorne sees him extend his lead at the top of the drivers’ championship.
May 22, 2015, 2:40 PM EDT
Harvey scores the win in Indy Lights’ biggest race of the year.
May 22, 2015, 2:00 PM EDT
Force India’s deputy team principal lashes out at the F1 Strategy Group, calls for a return to autocratic rule by the FIA and the F1 Group.
May 22, 2015, 1:00 PM EDT
Bids to supply tires to F1 upon the next change to the technical regulations now being taken.
May 22, 2015, 12:06 PM EDT
Notes as they develop from the ground in Indianapolis for Carb Day for the 99th Indianapolis 500.
May 22, 2015, 12:00 PM EDT
Bianchi remains in a coma in French hospital after sustaining severe head injuries at the Japanese Grand Prix last October.
May 22, 2015, 11:38 AM EDT
The team owner would like the season’s calendar expanded.
May 22, 2015, 10:30 AM EDT
Watch Carb Day IndyCar and Indy Lights coverage, from the Indianapolis Motor Speedway, at 11 a.m. ET on NBCSN and NBC Sports Live Extra.
May 22, 2015, 9:08 AM EDT
Still A LOT of stuff to watch for on Carb Day for the Verizon IndyCar Series, LIVE from 11 a.m. ET on NBCSN and NBC Sports Live Extra.
May 22, 2015, 8:22 AM EDT
Carb Day at IMS: always one of the busiest days of the year.
May 21, 2015, 11:51 PM EDT
In a bizarre and truly 11th hour circumstance, Tristan Vautier appears set to replace Carlos Huertas in Sunday’s Indianapolis 500.
May 21, 2015, 5:57 PM EDT
Oriol Servia says a connecting rod was removed that might have prevented the part from piercing the tub and critically injuring driver.
May 21, 2015, 5:00 PM EDT
American driver claims his second pole position in GP2 with a mesmerising display in Monaco on Thursday.
May 21, 2015, 4:32 PM EDT
The No. 5 beyond Indy 500 could be Daly, Wilson, or A.N. Other.
May 21, 2015, 4:00 PM EDT
Daniel Abt confirmed to be remaining with his family team for season two of the Formula E series.
May 21, 2015, 3:47 PM EDT
Boston confirmed for 2016 and beyond in IndyCar.
May 21, 2015, 3:33 PM EDT
SPM takes four of the top five spots on the Indy Lights grid.
May 21, 2015, 2:30 PM EDT
The McLaren driver lends his support to the proposed changes to F1 for 2017.
- Chip Ganassi lobbying for IndyCar schedule changes 0
- What to watch for: IndyCar, Indy Lights Carb Day (11 a.m. ET, NBCSN and Live Extra) 0
- IndyCar driver raises concern about design of wishbone that injured James Hinchcliffe in crash 3
- F1 Paddock Pass: Monaco Grand Prix (VIDEO) 0
- Hamilton tops quiet second Monaco GP practice 0
- Hamilton quickest in opening practice for Monaco GP 0
- James Hinchcliffe transferred out of ICU, full recovery expected 4