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German firm loses damages claim against F1 boss Ecclestone

Source: Reuters - Thu, 20 Feb 2014 10:37 GMT
Author: Reuters
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LONDON, Feb 20 (Reuters) - A British judge dismissed on Thursday claims for damages by a German firm against Formula One boss Bernie Ecclestone over his involvement in the 2005 sale of a stake in the motor racing business.

German company Constantin Medien EV4G.DE had alleged that Ecclestone, 83, was part of a "corrupt bargain" with a German banker to undervalue Formula One and favour the sale of a controlling stake to private equity fund CVC - which had agreed to keep Ecclestone on as chief executive of the business.

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