Statement on behalf of Mr Bernie Ecclestone

Mr Ecclestone has been successful in defeating a $140m civil claim brought against him (and 3 other Defendants) by a German media company, Constantin Medien AG (“Constantin”).

Constantin claimed to be entitled to a share of the proceeds realised by Bayerische Landesbank (“BLB”) from the sale of its shares in a Formula 1 Group company to the private equity firm, CVC, in 2006.

The key issue in the case was to determine whether BLB’s stake in F1, which it had inherited following the collapse of the Kirch group to whom BLB had lent significant sums, had been sold too cheaply in 2006, causing a potential loss to Constantin.

Mr Ecclestone has always known that this claim was brought for opportunistic reasons and despite many approaches from Constantin, he was resolute that he would not settle this case out of Court.

The judge has found that Constantin’s claim fails for multiple reasons. It is noteworthy that the judge found that there was no desire on the part of Mr Ecclestone to cause BLB to sell its shares at an undervalue and in fact there was no undervalue. Mr Ecclestone is delighted that this thoroughly unmeritorious claim has been dismissed.

As this was a civil claim, the judge was only required to deal with the claim on the balance of probabilities. This is a much lower standard of proof than would apply in a criminal case.

The judge has expressed his opinion that on the balance of probabilities there was an unlawful agreement made with Dr Gribkowsky and that payments that Mr Ecclestone made for Dr Gribkowsky’s benefit were a bribe, but this view is not underpinned by reliable evidence. The source of these allegations is Dr Gribkowsky himself, who did not give evidence in this case.

The judge expressly recognised there was clearly considerable force in the point that there had been no opportunity for Mr Ecclestone’s (and the other defendants’) legal team to cross-examine important witnesses, including Dr Gribkowsky. As such, the judge’s opinion is expressed in the light of hearing only partial evidence that has not been properly tested.

Mr Ecclestone welcomes that he will have the opportunity to defend these bribery allegations properly in proceedings due to begin in Munich in April, when the relevant witnesses can be compelled to attend and be cross-examined by his lawyers. He is confident that he will be acquitted.