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Court case against Ecclestone over F1 sale starts
Formula One boss Bernie Ecclestone was accused of making a "corrupt bargain" that cost a German media firm millions in a London court on Tuesday, one of multiple legal challenges that threaten his control of the motor sport. Constantin Medien is seeking more than $100 million in damages from Ecclestone, arguing that he and three other defendants deliberately undervalued Formula One when private equity fund CVC Capital Partners bought into the business in 2005. A sports-focused media group, Constantin Medien had an interest in the sale of German bank BayernLB's stake in the motor sport to CVC, and Constantin says it lost out as a result of the undervaluation. The legal fallout...
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11y ago from SuperSport.com
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