BayernLB seeking £248m from Ecclestone

25/10/2012

German bank BayernLB is seeking $400m (£248m) from Bernie Ecclestone in the latest twist in the Gerhard Gribkowsky saga.

At present, the German bank has essentially asked the F1 supremo for the money which it claims is compensation for the deal that saw CVC acquire the sport in 2066, however, the threat of legal action has been clearly implied.

However, Ecclestone, who is 82 this weekend, appears unmoved by BayernLB's request and the threatened legal action.

"They asked our lawyers in Germany. They said could we have 400 million back? I did not respond. There is no point, is there?" he told reporters in India ahead of this weekend's Grand Prix.

When asked if he was prepared to go to court the Englishman, as feisty as ever, hit back: "Yeah, absolutely. But there's nothing to worry about. I'm aggravated with the nonsense I'm being put through for all this. I sold the shares for the bank. It was something they couldn't sell.

"They had six people look at it and wouldn't buy. I got them out of trouble and now I'm in trouble. Life is like that sometimes.

"They will sue," he added. "If they win, they get paid. If they lose, it will cost them. A massive per cent of these actions that take place, people settle. They don't want the trouble. The very reason I gave Gribkowsky money was to stop the problem and aggravation which would have gone on for years."

In a move which invokes the opening credits of Dad's Army, the 82-year-old also warned the German bank that it would have to come to England to pursue its claim.

"I live in England," he said. When asked about his failure to respond to his legal representatives in Germany, he replied: "There's no point is there? They will sue. If they win, they get paid. If they lose, it will cost them. That's all.

Asked if there was a chance of him joining Gribkowsky in a German prison, Ecclestone laughed and said: "I hope not. I wouldn't complain about German prisons, but I'd rather not be in one anywhere to be honest."

And while this latest twist once again raises doubts at to whether he can continue to run the sport, he insisted: "There's nothing to stop me running F1."