Bernie Ecclestone has won a high court battle brought against him over the sale of Formula 1 in 2005.
German media company Constantin Medien were suing the 83-year-old for £85 million ($140m) in damages after they claimed they lost out on a deal which saw CVC Capital Partners take a majority shareholding in the sport.
Ecclestone said the claim “lacks any merit” during evidence given in November last year at London’s High Court.
Whilst Mr Justice Newey dismissed Constantin Medien’s claims, saying they didn’t lose out financially because of the sale, he did say Ecclestone paid a bribe to jailed German banker Gerhard Gribkowsky to facilitate the sale to a preferred bidder.
That claim by the judge could damage Ecclestone upcoming Munich court case which is presiding over whether or not Ecclestone’s payment to Gribkowsky was a bribe and therefore illegal.
Discussion about this post