German Media Claims Ecclestone Blackmailed By Banker For $40 Million
Apr 27, 2011 | 08:24 AM
#5
Teamspeed Senior Member
Joined: Apr 2008
Posts: 806
From: Australia
Consequences… «
Would be very interesting to find out the real dirt on Bernie to ask for $50 mill and get it...
Consequences…
April 27, 2011 by joesaward
Let us assume for a moment that the German publications reporting that Bernie Ecclestone has alleged that BayernLB’s Gerhard Gribkowsky blackmailed him during the sale of the Formula One group to CVC Capital Partners back in 2005 are correct. It is a safe bet because they seem to have exceptionally good links to the judiciary in Bavaria, as has been seen throughout the Gribkowsky Affair. They say that Ecclestone’s official testimony is that Gribkowsky blackmailed him and that this was put on the record when Bernie went to Munich earlier this month. If the German journalists were not confident that they are 100 percent correct, they would not report it. It is never wise to libel a billionaire. There has been no swift denial from Princes Gate.
The consequence of that piece of information is an inevitable question. Bernie is famous for playing hard ball when it comes to negotiations. Threatening him was never considered to be a very wise move because he has always had a tendency to stand his ground and then hit back. So, if he is admitting to paying Gribkowsky a vast sum of money, one must ask what did Gribkowsky know that would have been worth $50 million?
If Ecclestone had nothing to hide, Gribkowsky had no story to tell. The Bavarians may not care if there is a story but someone, somewhere must be interested in that information. No-one pays out $50 million unless they feel they must. Thus the consequence of this is that people are going to start asking questions of the Bavarians, and Gribkowsky.
Fascinating though this might be, the detail is really not important. The key question is not what the suits at CVC Capital Partners, the major shareholder in the Formula One group, think. Read their prospectus and you will see that they represent very conservative US pension funds. They make money and they do not like messes. They like everything to be in order. They like being snow white. Shades of grey worry them and they start to glance now and then at the door marked “exit” whenever there is a hint of trouble.
The consequence of all this is that the rumour mill in F1 circles is swirling.
April 27, 2011 by joesaward
Let us assume for a moment that the German publications reporting that Bernie Ecclestone has alleged that BayernLB’s Gerhard Gribkowsky blackmailed him during the sale of the Formula One group to CVC Capital Partners back in 2005 are correct. It is a safe bet because they seem to have exceptionally good links to the judiciary in Bavaria, as has been seen throughout the Gribkowsky Affair. They say that Ecclestone’s official testimony is that Gribkowsky blackmailed him and that this was put on the record when Bernie went to Munich earlier this month. If the German journalists were not confident that they are 100 percent correct, they would not report it. It is never wise to libel a billionaire. There has been no swift denial from Princes Gate.
The consequence of that piece of information is an inevitable question. Bernie is famous for playing hard ball when it comes to negotiations. Threatening him was never considered to be a very wise move because he has always had a tendency to stand his ground and then hit back. So, if he is admitting to paying Gribkowsky a vast sum of money, one must ask what did Gribkowsky know that would have been worth $50 million?
If Ecclestone had nothing to hide, Gribkowsky had no story to tell. The Bavarians may not care if there is a story but someone, somewhere must be interested in that information. No-one pays out $50 million unless they feel they must. Thus the consequence of this is that people are going to start asking questions of the Bavarians, and Gribkowsky.
Fascinating though this might be, the detail is really not important. The key question is not what the suits at CVC Capital Partners, the major shareholder in the Formula One group, think. Read their prospectus and you will see that they represent very conservative US pension funds. They make money and they do not like messes. They like everything to be in order. They like being snow white. Shades of grey worry them and they start to glance now and then at the door marked “exit” whenever there is a hint of trouble.
The consequence of all this is that the rumour mill in F1 circles is swirling.
Last edited by st00ge; Apr 27, 2011 at 08:26 AM.
May 14, 2011 | 02:18 PM
#9
Teamspeed Pro
Joined: Feb 2009
Posts: 7,647
From: Munich,Germany
now all the money of Gribkowsky was seized and BayernLB claims damages of 200 million Euros..great.
And Ecclestone,this slimy sob,is still profiting of the benfits of this deal and most likely will get out of this whole thing without any harm
And Ecclestone,this slimy sob,is still profiting of the benfits of this deal and most likely will get out of this whole thing without any harm
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