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Testing times for F1 teams
Published in The Saudi Gazette on 21 - 02 - 2014

MANAMA — Fernando Alonso's Ferrari topped the times after Thursday's morning session on the second day of pre-season testing at Bahrain's Sakhir circuit.
The Spaniard led the way with a best time of 1min 37.00sec, followed by Valtteri Bottas in a Williams and Force India's Nico Hulkenberg, who took the honors Wednesday, in third.
Red Bull's testing traumas finally relented with Sebastien Vettel completing 26 laps, five laps more than the world champions managed over the entire four days at Jerez last month.
Lotus sticks with Renault
Lotus took time out putting its new E22 car through its paces in Bahrain Thursday to announce the signing of a new deal with Renault engines for “2014 and beyond.”
Confirming the news Lotus chief executive officer Matthew Carter said: “Lotus F1 team and Renault Sport F1 have enjoyed a successful partnership these past few years and we look forward to continue to build on our relationship and collaboration in 2014 and beyond.
“It is the beginning of a new era in Formula 1 and we are pleased to embrace it together with Renault Sport F1.”
Ecclestone wins case
Despite a ruling damaging to his already tarnished image, Formula 1 boss Bernie Ecclestone won a multimillion-dollar case at London's High Court Thursday relating to the sale of F1 in 2005.
The case was dismissed but the judge said it had nevertheless been a corrupt deal and questioned Ecclestone's honesty. “Even ... making allowances for the lapse of time and Mr. Ecclestone's age, I am afraid that I find it impossible to regard him as a reliable or truthful witness,” judge Guy Newey said.
A former F1 shareholder, German media company Constantin Medien, had sued Ecclestone and other defendants for up to $144 million, claiming F1 was undervalued at the time of the sale to investment group CVC Capital Partners. The 83-year-old Ecclestone was accused of entering into a “corrupt agreement” with German banker Gerhard Gribkowsky to facilitate the sale of Formula One Group to a buyer chosen by him.
The High Court said the deal was corrupt, but ruled that Constantin Medien did not lose out as a result.
“No loss to Constantin has been shown to have been caused by the corrupt arrangement with Dr. Gribkowsky,” the judge said in his conclusions. “That fact is fatal to the claim.”
During the trial, which ran from October to December last year, Constantin Medien's lawyers said that payments totaling about 27 million pounds ($45 million) were made to Gribkowsky at the instigation of Ecclestone.
Gribkowsky, who was in charge of selling German bank BayernLB's 47-percent stake in F1 to CVC, has already been found guilty of corruption, tax evasion and breach of trust and is serving an 8½-year prison sentence.
Ecclestone acknowledged during Gribkowsky's trial that he made the payment to avoid being reported by the banker to authorities over his tax affairs.
“The payments were a bribe. They were made because Mr. Ecclestone had entered into a corrupt agreement with Dr. Gribkowsky in May 2005 under which Dr. Gribkowsky was to be rewarded for facilitating the sale of BLB's shares in the Formula One group to a buyer acceptable to Mr Ecclestone,” the judge said. — Agencies


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