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.

Here’s who were picking to win the Indy 500 — who are YOU picking?

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Several members of the NBC Sports motorsports staff have made their predictions on who will win Sunday’s 102nd Running of the Indianapolis 500.

Of the six voters, two are going with 2017 Verizon IndyCar Series champ Josef Newgarden, while two others are going with Helio Castroneves to win a fourth 500, which would tie him with A.J. Foyt, Al Unser and Rick Mears.

Here’s our picks. Who are YOU picking?

Leigh Diffey: Helio Castroneves — He drives the place better than anyone else. For me (for what its worth) he deserves a fourth 500 ring for the frustration he went through never getting the IndyCar title!

Townsend Bell: Josef Newgarden

Nate Ryan: Simon Pagenaud — All of his 2018 misfortune on the track has disappeared in May, and it culminates in the biggest victory of his career.

Jerry Bonkowski: Helio Castroneves – There’s no pressure as he pursues his fourth Indy 500 win. All Helio has to do, as late NFL owner Al Davis would say, is “Just win, baby!” (But if Helio falls short, watch for Marco Andretti)

Kyle Lavigne: Josef Newgarden — I think he has everything he needs to get it done this year.

Dan Beaver: Robert Wickens – Has driven like anything except a rookie and his second-place finish at Phoenix proves he’s just as good on an oval as the road courses.

Follow: Jerry Bonkowski