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.
Marcos Ambrose looks to salvage lost season in V8 Supercars, has had no issues ‘moving on’ from NASCAR
Jul 28, 2015, 8:50 PM EDT
Even though it has been pretty much of a lost season for him in Australia’s V8 Supercars series, Marcos Ambrose believes he can still find some success before the racing year is over.
‘Race With Restraint’ proves grassroots racers want, will use more safety equipment at affordable rate
Jul 28, 2015, 6:56 PM EDT
The first attempt at bringing top-of-the-line safety equipment to the grassroots racing masses was an unqualified success.
Jul 28, 2015, 4:32 PM EDT
Hector Arana Jr. hopes 2015 is about time to finally be his time.
Jul 28, 2015, 3:45 PM EDT
Fast facts heading into this weekend’s Honda Indy 200, courtesy of IndyCar PR staff.
Jul 28, 2015, 2:50 PM EDT
To paraphrase Mark Twain, rumors of the demise of NHRA’s Pro Stock class have been greatly exaggerated.
Jul 28, 2015, 12:31 PM EDT
Simon Pagenaud swaps firesuit for street clothes when driving the Penske Truck Rental truck, playing “mover” this weekend.
Jul 28, 2015, 11:38 AM EDT
The latest car for Austin Cindric is a Lamborghini at Mid-Ohio this weekend.
Jul 28, 2015, 11:23 AM EDT
Zanardi still wants to race the Indy 500, if possible.
Jul 28, 2015, 11:04 AM EDT
Singapore Grand Prix circuit to adjust Turns 11 to 13.
Jul 28, 2015, 10:15 AM EDT
Sherwin-Williams joins the Hulman Motorsports family as Official Paint and Finishing Partner.
Jul 28, 2015, 9:55 AM EDT
We check in with NBCSN IndyCar analyst Townsend Bell for latest “Ten with Townsend” insights, post the Iowa race and heading into Mid-Ohio.
Jul 27, 2015, 4:51 PM EDT
Good news, Ricciardo made the podium. Bad news, his trophy didn’t survive it.
Jul 27, 2015, 4:09 PM EDT
Jakes kept his visor down after all on a pit stop in Iowa.
Jul 27, 2015, 3:13 PM EDT
A quick look back at Chaves’ short track debut.
Jul 27, 2015, 2:00 PM EDT
Karam needs a clean, consistent weekend at Mid-Ohio.
Jul 27, 2015, 12:00 PM EDT
Rahal and Force compete against each other in a series of fun challenges at Sonoma.
Jul 27, 2015, 11:00 AM EDT
If another Dixon Mid-Ohio win happens, it will save his championship chances.
After blowing his chance to cut the gap to Hamilton, Rosberg must now avoid the mistakes of last summer
Jul 27, 2015, 10:00 AM EDT
Luke Smith considers the fall-out of a dramatic Hungarian Grand Prix that saw both Mercedes drivers miss an opportunity to seize control of the drivers’ championship.
Jul 27, 2015, 9:00 AM EDT
Manor makes it through a difficult weekend by getting both of its cars to the finish in Hungary.
Jul 27, 2015, 8:00 AM EDT
Vettel storms to his 41st career victory in Hungary as both Mercedes drivers hit trouble.
- Marcos Ambrose looks to salvage lost season in V8 Supercars, has had no issues ‘moving on’ from NASCAR 0
- NHRA: Big changes coming to Pro Stock this weekend, next season 9
- Report: Alex Zanardi keen to make Indianapolis 500 debut 5
- Ten with Townsend: Milwaukee and Iowa debrief 0
- For Dixon, it’s likely Mid-Ohio or bust in terms of 2015 IndyCar title hopes 0
- Race Recap: Vettel draws level with Senna on all-time win list with victory in Hungary 3
- NHRA Mile-High Nationals winners: Torrence, Beckman, Morgan, Krawiec 2