Feb 20, 2014, 9:23 AM EDT
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.
May 27, 2015, 4:57 PM EDT
The last seven races held in Detroit have been won by a different driver.
May 27, 2015, 4:17 PM EDT
Penalties doled out after the Indy 500, most notably to the No. 19 and 98 teams for pit incidents.
May 27, 2015, 2:08 PM EDT
Gonzalez returns to No. 18 car after running it in the Grand Prix of Alabama.
May 27, 2015, 1:16 PM EDT
After three straight top-five finishes, Graham Rahal returns to the site of his only 2014 podium.
May 27, 2015, 12:45 PM EDT
Ahead of the Red Bull GRC season, Tanner Foust and Scott Speed look for better luck in the pair of Volkswagen Andretti Rallycross Beetles.
May 27, 2015, 12:28 PM EDT
Charlie Kimball says his team has hit its stride after two straight top-five finishes.
May 27, 2015, 11:28 AM EDT
Hinch heads home.
May 27, 2015, 10:41 AM EDT
Wilson and Andretti continue relationship at FE race in Moscow.
May 27, 2015, 9:23 AM EDT
Racing for Cancer to make trip to this year’s Le Mans, with Derek DeBoer in an Aston Martin Vantage GT4.
May 27, 2015, 8:16 AM EDT
The Red Bull GRC season kicks off in Fort Lauderdale this weekend.
May 27, 2015, 7:44 AM EDT
Fast facts heading into this weekend’s Chevrolet Indy Dual in Detroit, courtesy of IndyCar PR staff.
May 26, 2015, 1:00 PM EDT
Chaves best of two first-year drivers in 99th Indianapolis 500.
May 26, 2015, 10:30 AM EDT
Look out for Nelson Piquet Jr. and SH Rallycross to have a big year in 2015.
May 26, 2015, 9:04 AM EDT
Daly gets confirmed for this weekend’s pair of races in Detroit.
Juan Pablo Montoya earns nearly $2.5 million for Indy 500 win (full box score with winnings attached)
May 26, 2015, 8:00 AM EDT
Team Penske nearly doubles his haul from first Indy 500 win 15 years ago.
May 25, 2015, 5:40 PM EDT
Runner-up Will Power said it’s as simple as making the cars slower.
May 25, 2015, 3:20 PM EDT
After his second triumph in the Greatest Spectacle in Racing, he is ovewhelmed by congratulatory messages.
Montoya’s Indianapolis 500 win adds another storied chapter to the Roger Penske-Chip Ganassi rivalry
May 25, 2015, 2:12 PM EDT
They are the only car owners to win the Daytona 500 and Indianapolis 500 in the same season.
May 25, 2015, 1:00 PM EDT
The Mercedes-affiliated youngster clinches his first win of the season around the legendary streets of Monaco.
May 25, 2015, 12:00 PM EDT
After a miserable run of form, Latvala finally climbs to the top step of the podium with a narrow win over Sebastien Ogier in Portugal.
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