German bank rejects Ecclestone deal

A German bank that once held a major stake in Formula One has rejected Bernie Ecclestone’s offer of a €25m settlement in a dispute over the sale of that stake.

Earlier this week, a Munich court dropped a bribery case against Ecclestone connected to the sale of Munich-based bank BayernLB’s F1 stake in exchange for a €75m payment. After hearing more than three months of evidence, the court said it had serious doubts the F1 boss could be convicted of bribery and incitement to breach of trust.