Formula 1 boss Bernie Ecclestone wins case on sale of F1, but judge says deal was corrupt

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FILE - In this Nov. 11, 2013 file picture President and CEO of Formula One Management Bernie Ecclestone arrives for his case at the High Court in London. Formula 1 boss Bernie Ecclestone has won a multimillion-dollar case at London\'s High Court Thursday Feb. 20, 2014,relating to the sale of F1 in 2005 but the judge nevertheless said it was a corrupt deal. A former F1 shareholder, German media company Constantin Medien, had sued Ecclestone and other defendants for up to 44 million, claiming F1 was undervalued at the time of the sale to investment group CVC Capital Partners. (AP Photo/Matt Dunham. File)

LONDON – Formula 1 boss Bernie Ecclestone has won a multimillion-dollar case at London’s High Court relating to the sale of F1 in 2005 but the judge nevertheless said it was a corrupt deal.

A former F1 shareholder, German media company Constantin Medien, had sued Ecclestone and other defendants for up to $144 million, claiming F1 was undervalued at the time of the sale to investment group CVC Capital Partners.

Ecclestone was accused of entering into a “corrupt agreement” with a banker to facilitate the sale of the Formula 1 Group to a buyer chosen by him.

Britain’s High Court ruled Thursday that the deal was corrupt, but said that Constantin Medien did not lose out as a result.

Ecclestone is also facing trial in Germany after being accused of bribery.

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