user icon
user icon

Ecclestone not prepared to make BayernLB a new offer

  • Published on 26 Aug 2014 09:52
  • comments 0
  • By: Rob Veenstra
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. (GMM)

Replies (0)

Login to reply

BE Grand Prix of Belgium

Local time 

BE Grand Prix of Belgium

Local time 

Related news

Test calendar

Circuit de Catalunya - Winter testing

Circuit de Catalunya - Winter testing

See full test schedule

Give your opinion!

Will Bottas challenge Hamilton for the world championship in 2020?

World Championship standings 2020

Show full world champion standings

Formula 1 Calendar - 2020

Date
Grand Prix
Circuit
-
Spain
-
Spain
3 - Jul 5
Austria
10 - Jul 12
Austria
17 - Jul 19
Hungary
31 - Aug 2
United Kingdom
7 - Aug 9
United Kingdom
14 - Aug 16
Spain
28 - Aug 30
Belgium
4 - Sep 6
Italy
11 - Sep 13
Italy
25 - Sep 27
Russian
9 - Oct 11
Germany
13 - Nov 15
Turkey
27 - Nov 29
Bahrain
10 - Dec 13
United Arab Emirates
See full schedule

Formula 1 Calendar - 2020

Date
Grand Prix & Circuit
3 - Jul 5
Austria Red Bull Ring
10 - Jul 12
Austria Red Bull Ring
17 - Jul 19
Hungary Hungaroring
31 - Aug 2
United Kingdom Silverstone
7 - Aug 9
United Kingdom Silverstone
14 - Aug 16
28 - Aug 30
4 - Sep 6
Italy Monza
11 - Sep 13
Italy Mugello
25 - Sep 27
Russian Sochi Autodrom
9 - Oct 11
Germany Nurburgring
13 - Nov 15
Turkey Istanbul Park
27 - Nov 29
10 - Dec 13
United Arab Emirates Yas Marina Circuit
See full schedule
show sidebar