F1 » Ecclestone 'aggravated' by $400m demand


Bernie Ecclestone has said that he is prepared to go to court following the latest turn of events regarding the ownership of F1.

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Caroline - Unregistered

October 26, 2012 10:35 AM

How could the shares be undervalued when Hong Kong conglomerate Hutchison Whampoa and private equity firm Clearbrook Capital, were not prepared to pay Bayern as much as CVC.

While Bayern's management board member, Dieter Burgmer, added: “BayernLB's management board regarded the net proceeds from the sale of the Formula One stake to CVC as very attractive.”

Caroline - Unregistered

October 26, 2012 10:36 AM

and ...

Kurt Faltlhauser, head of Bayern's administrative board said: “The price we were offered by CVC was surprisingly high and it came as a great relief.”

Nick636

October 26, 2012 10:47 AM

Answer me this please... SOMEONE!

IF Gribkowski is guilty of ACCEPTING / TAKING the money from Ecclestone, how is old Bernie not in prison for GIVING the cash? Or have I missed something.

mrfill

October 26, 2012 11:22 AM

@Nick
The money was paid from Bambino Holdings, a tax avoiding trust and Bernie has 'no control' over its administration. If it is discovered the Bernie does control Bambino, it becomes liable for UK tax - to the tune of about 2 thousand million pounds.

And the UK economy doesn't need that. does it?

autoglam - Unregistered

October 26, 2012 1:10 PM

Even if you had to give up all your money in the world Berney and only had
One penny left, then you would still have more money Than sense.
Maybe it's time to leave the sport now before something comes to light that will jepodise F1 forever.

The hobbit is done, long live the next one.

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