Feb 20, 2014, 9:23 AM EST
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.
Mar 1, 2015, 5:00 PM EST
Here’s the final recap from the Circuit de Barcelona-Catalunya as pre-season testing comes to a close.
Mar 1, 2015, 3:30 PM EST
Team principal Maurizio Arrivabene calls for “concentration and discipline” at Maranello in the lead-up to the start of the 2015 season.
Mar 1, 2015, 3:00 PM EST
The Team Penske pilot turns 34 years old today.
Mar 1, 2015, 2:30 PM EST
Maldonado is still able to find the positives out of his final test run before the beginning of the 2015 season in Australia on March 15.
Mar 1, 2015, 2:00 PM EST
Should Mercedes drop the ball in 2015, Williams could be the team to pick up the pieces and snatch a race win.
Mar 1, 2015, 1:30 PM EST
17-year-old will become the youngest driver in the history of F1 to start a race in Australia.
James Courtney wins season-opening V8 Supercars feature in Adelaide; ex-NASCAR driver Marcos Ambrose 12th
Mar 1, 2015, 1:00 PM EST
Ambrose cracks Top 10 on feature grid, but fuel strategy hinders an otherwise decent run for him.
Mar 1, 2015, 12:45 PM EST
German driver posted the fastest time of winter testing in Barcelona on Friday.
Mar 1, 2015, 12:30 PM EST
With the ban on motorsport in Switzerland being lifted, the door has been opened to an ePrix in Geneva.
Mar 1, 2015, 12:00 PM EST
Attention now turns to the season-opening Australian Grand Prix in Melbourne on March 15.
Mar 1, 2015, 11:00 AM EST
Ferrari technical director says that the SF15-T is working as expected.
Mar 1, 2015, 10:00 AM EST
Maldonado confident Lotus has made a big improvement after miserable 2014.
Mar 1, 2015, 8:00 AM EST
British driver says that sticking with #44 means far more to him than having the number designated for the world champion.
Feb 28, 2015, 5:00 PM EST
Argentinian driver confirms his plans for the new season after a difficult 2014 with Hilmer Motorsport.
Feb 28, 2015, 4:00 PM EST
A full round-up from the penultimate day of F1 pre-season testing in Barcelona.
Feb 28, 2015, 3:30 PM EST
Frenchman joined the team as a test driver for the 2015 season.
Feb 28, 2015, 3:11 PM EST
Bourdais, Hawksworth, Aldo Andretti and more all have birthdays today, February 28.
Feb 28, 2015, 3:00 PM EST
Despite posting a time that, when adjusted to account for tire compounds, could be 1.4 seconds quicker than the rest of the field, the Briton was unenthused about his performance.
Feb 28, 2015, 2:30 PM EST
How well does Josef Newgarden dunk? Find out in video he does with Indiana Pacers “Power Pack.”
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