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Ecclestone wins damages court case

Feb 20, 2014, 9:23 AM EDT

AUTO-PRIX-SIN-F1 Getty Images

A High Court case involving the sale of Formula One has seen the judge, Justice Guy Newey, dismiss charges of an £85 million damages claim against Bernie Ecclestone. However, the court did still say the deal was corrupt.

Ecclestone was involved in the sale of F1 to CVC Capital Partners in 2005, and the issue at hand was whether the sale was “undervalued.” It was a claim made by lawyers for the German media group Constantin Medien, who argued the sale was agreed “without the normal and proper process” and for an undervalued price. They also sought the damages amount (£85m; 103m euros) in compensation, per the BBC.

Newey said the deal was corrupt and hadn’t found Ecclestone, 83, “reliable or truthful,” but did say Constantin Medien had not suffered a financial loss as a result.

The other major pending legal issue facing Ecclestone is the bribery charge, for an alleged bribe to German banker Gerhard Gribkowsky. That trial begins in April.

On an unrelated note but one also related to Ecclestone, he has denied that Sainsbury’s departing CEO, Justin King, will replace him in running F1, in a story written by The Guardian’s Christian Sylt.

King is a known motor racing fan, but per the story, his primary focus is on furthering son Justin King’s career. The younger King reigned as champion of British Formula 3 in 2013.

  1. kitnamania13 - Feb 20, 2014 at 10:06 AM

    Let’s drive up the comment count for these non-Nascar articles. If we don’t, this site will become all Nascar.

    • worknman24hours - Feb 22, 2014 at 3:57 PM

      Nice try kit, but for some reason no one wants to comment here.

      I don’ t understand why, the mods here are reasonable and the site is ready for everyone to chime in.

  2. worknman24hours - Feb 22, 2014 at 4:01 PM

    Ha-Ha-Ha- looks like the reports Bernie Ecclestone’s demise are unfounded.

    It looks like you can still do business like business has always done and it’s not illegal yet.

    Congrats Bernie on winning against anothers pointless attack on your success.

  3. mgilbert62 - Feb 25, 2014 at 2:54 AM

    Too bad they don’t toss that ugly little troll away in some dank, dark cell and destroy the key.

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