Ecclestone faces new investigation as High Court trial begins

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Bernie Ecclestone is standing trial accused of arranging a sale of Formula One in 2005 which was below its market value in order to retain his control of the sport.

Constantin Medien, formerly a stakeholder in F1, has brought the case alleging Ecclestone’s $820m sale to CVC Capital Partners undervalued the property, losing them money. The German media company is seeking over $100m in damages.

Ecclestone, who did not attend the first day of proceedings in London’s High Court yesterday, refutes the charges. He has already been indicted in Germany for paying $44m to jailed banker Gerhard Gribkowsky.

Constantin Medien’s lawyers argued the indictment showed Ecclestone had participated in a “corrupt bargain” but Mr Justice Newey said it was “hard to see about how the indictment can play any role in these proceedings”.

While Ecclestone remains embroiled in legal deliberations in Germany another front in his contests with the courts has opened in Switzerland. An investigation will probe the nature of Ecclestone’s payment to Gribkowsky to judge whether it violated Swiss law.

The cases are being closely watched to see what details of Formula One’s clandestine and labyrinthine finances are revealed, and whether Ecclestone’s position as chief executive officer of Formula One Group is placed in jeopardy. He has previously admitted CVC would “probably have to get rid of me” if he were convicted.

Your heart will start racing with IndyCar’s new “The Future Starts Now” video

Image courtesy IndyCar
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One of the biggest challenges for any motorsport series — whether it’s NASCAR, NHRA, IndyCar, Formula One and so many others — is to find ways to attract new fans.

That’s particularly important when attempting to lure young fans, especially the much-coveted millennials (born after 1981) and teenagers.

As all series prepare for the upcoming 2018 racing season, kudos have to be given to IndyCar for its new “The Future Starts Now” video, which debuted Tuesday at the North American International Auto Show at Detroit.

Even if it’s five degrees below zero where you’re at, one look at this video and you’ll likely not only start warming up a bit, we bet you’ll start getting even more excited for the start of the 2018 Verizon IndyCar Series season, which begins March 11 in St. Petersburg, Florida.

Check out the new video above and watch if it doesn’t get your heart racing real quick: