F1-Fansite.com

F1 News

Ecclestone still fighting with German bank

Bernie Ecclestone
Bernie Ecclestone
Mark Webber, Ron Walker, Bernie Ecclestone and Daniel Ricciardo

Mark Webber, Ron Walker, Bernie Ecclestone and Daniel Ricciardo

Bernie Ecclestone remains at legal loggerheads with the Munich state bank BayernLB.

When the sport's supremo controversially yet successfully settled with German prosecutors for $100 million, he had at the time also made an offer of $25 million to the aggrieved bank and former F1 shareholder BayernLB.

The offer was turned down because it was not high enough.

But "If the overall package is right, we wouldn't be closed to it," BayernLB chief executive Johannes-Joerg Riegler said last week.

Earlier, BayernLB had been seeking $400 million, but F1 business journalist Christian Sylt said a spokesman confirmed the bank wants an amount similar to the $100m criminal suit settlement.

"Perhaps the $25m doesn't match with this settlement structure and perhaps somebody has to think about it because the state prosecutors in Germany got $100m," said the bank spokesman.

Ecclestone's lawyer says no.

"We are not prepared to make a new offer," Sven Thomas, describing the original proposal as "sensible", told Sylt and the Telegraph newspaper.

"BayernLB have rejected the offer, as expected. At the moment we don't do anything. We wait to see what they are going to do.

"If they try to sue, they shall have no chance at all. I don't think they will try to sue," Ecclestone's lawyer added.

Book discounted tickets and reservate your hotel room in our F1 Tickets Shop.

Please share this article & subscribe to our FREE weekly F1 Newsletter!

PinIt
 submit to reddit  

Latest posts in this F1 category:

See older posts in our F1 Archive »

Stay Updated by F1-Fansite!

2017 F1 Merchandise

2017 F1 MerchandiseGet your 2017 F1 Merchandise here.

Early Booking Discounts on F1 Tickets

Book F1 Tickets cheaper at F1-Fansite.com 2017 Formula 1 Season Early Booking Discounts are:
F1 RaceDiscount
USA '17AvailableBook Now
Mexico '17AvailableBook Now
Brazil '17AvailableBook Now
Abu Dhabi '17AvailableBook Now
Australia '18AvailableBook Now
Spain '1820% DiscountBook Now
Monaco '18AvailableBook Now
Canada '18AvailableBook Now
Austria '1820% DiscountBook Now
UK '18AvailableBook Now
Germany '1829% DiscountBook Now
Hungary '1820% DiscountBook Now
Belgium '1815% DiscountBook Now
Singapore '1820% DiscountBook Now