BayernLB sues Bernie Ecclestone

Hours after Bernie Ecclestone found his position as chief executive of the Formula One Group, BayernLB bank formerly holder of the rights to the F1 announced at Reuters that she was taking the British businessman to court and demanding 345 million euros in damages.

German society considers itself deceived by F1 financier suspected of having paid bribes to banker Gerhard Gribkovsky to promote the redemption of the rights of the discipline. “A board member was bribed when the bank's shares in F1 were sold in 2005 and 2006. The sales contracts were not negotiated but finalized according to the terms dictated by Mr Ecclestone, terms which were disadvantageous for our bank”, highlighted a BayernLB spokesperson.

Si the German banker was sentenced to prison for having received illegal payments, Bernie Ecclestone escaped the clutches of the Munich court (Germany) by paying a fine of 100 million dollars (75 million euros). This complaint will once again restart the judicial machine which Mr. E certainly hoped to have gotten rid of.