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.
Jul 4, 2015, 6:00 PM EDT
Watch latest INDYCAR Chronicles with Josef Newgarden.
Jul 4, 2015, 4:00 PM EDT
The coinage of a new term took place at Silverstone on Thursday thanks for Force India’s owner.
Jul 4, 2015, 3:00 PM EDT
Both Ferraris will start behind Williams for the first time in 2015 on Sunday.
Jul 4, 2015, 2:00 PM EDT
The Red Bull driver will start tomorrow’s British Grand Prix from tenth place on the grid.
Jul 4, 2015, 1:00 PM EDT
A lively GP2 race sees Sirotkin claim his first win in the series ahead of Rossi and championship leader Stoffel Vandoorne.
Jul 4, 2015, 12:00 PM EDT
Dutchman admits to NBCSN that he thought he would easily make it through to Q3 in British GP qualifying.
Jul 4, 2015, 11:00 AM EDT
Massa will start tomorrow’s British Grand Prix from third place on the grid ahead of Williams teammate Valtteri Bottas.
Jul 4, 2015, 9:47 AM EDT
Hamilton thanks fans for support as over 100,000 come out for qualifying on Saturday at Silverstone.
Jul 4, 2015, 9:05 AM EDT
Hamilton edges out Rosberg for top spot in Q3 on Saturday at Silverstone.
Jul 4, 2015, 7:45 AM EDT
Can Lewis Hamilton storm to his eighth pole position of the 2015 Formula 1 season on Saturday at Silverstone?
Jul 4, 2015, 6:02 AM EDT
British driver back on top at Silverstone as Rosberg suffers another gearbox problem.
Jul 4, 2015, 4:45 AM EDT
Rosberg looks to make it a clean sweep of practice sessions on Saturday morning.
Jul 3, 2015, 5:00 PM EDT
Sirotkin claims his first pole in the GP2 Series on Friday ahead of Stoffel Vandoorne and Richie Stanaway.
Jul 3, 2015, 4:00 PM EDT
Foust seeks another win, Speed looks for bounce back from tough Daytona at MCAS.
Jul 3, 2015, 3:30 PM EDT
The street and road course specialist gets his first taste of an oval in Iowa this week.
Jul 3, 2015, 2:00 PM EDT
Wolff finishes eight-tenths of a second behind regular Williams driver Felipe Massa in FP1 on Friday.
Jul 3, 2015, 1:22 PM EDT
British driver switches back to the old setting on his Mercedes after struggling in the past four races.
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