London, Feb 21 (ANI): Formula One chief Bernie Ecclestone has reportedly won an 85 million-pound damages claim against him by a German media group, although he admitted that he did pay a bribe over a sale of F1 shares.
Lawyers for Constantin Medien, which had an interest in the 2006 sale of a German bank-owned F1 stake to private equity group CVC Capital Partners, claimed that the sale was agreed 'without the normal and proper process' and for an undervalued price, and was seeking 85 million pounds in compensation.
However, the BBC reports a High Court judge ruled that the damages claim failed because it had been 'no part' of 'Ecclestone's purpose for shares to be sold at an 'undervalue', adding that there had been no financial loss to Constantin Medien.
But the judge found that Ecclestone had made a 'corrupt' deal and he had been not 'reliable or truthful' during the case in London.
The report mentioned that the decision was seen as one that could have effectively brought about the end of one of the most powerful tenures in the history of motorsport - or sport generally.
The question now is whether this will have an impact on a criminal case in Germany, where Ecclestone has to stand trial on charges of bribing German banker Gerhard Gribkowsky to facilitate the sale to a buyer chosen by him, in April.
Ecclestone is the chief executive of F1, and has ruled the sport for almost four decades, the report added. (ANI)
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