German firm loses damages claim against F1 boss Ecclestone

Reuters News
Posted: Feb 20, 2014 6:06 AM

LONDON (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 favor the sale of a controlling stake to private equity fund CVC - which had agreed to keep Ecclestone on as chief executive of the business.

(Reporting by Estelle Shirbon; editing by Stephen Addison)