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Ecclestone not prepared to make BayernLB a new offer

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)
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Formula 1 Calendar - 2021

Date
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Bahrain Bahrain International Circuit
26 - Mar 28
Bahrain Bahrain International Circuit
16 - Apr 18
Italy Autodromo Enzo e Dino Ferrari
30 - May 2
Portugal Autódromo Internacional do Algarve
7 - May 9
Spain Circuit de Catalunya
21 - May 23
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Azerbaijan Baku City Circuit
11 - Jun 13
Canada Gilles Villeneuve
25 - Jun 27
France Paul Ricard
2 - Jul 4
Austria Red Bull Ring
16 - Jul 18
United Kingdom Silverstone
30 - Aug 1
Hungary Hungaroring
27 - Aug 29
Belgium Spa-Francorchamps
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Netherlands Circuit Zandvoort
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Italy Monza
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Russian Sochi Autodrom
1 - Oct 3
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Japan Circuit Suzuka
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