Bernie Ecclestone accused of bribery

Bernie Ecclestone
© PA Photos
Bernie Ecclestone is accused of bribery by German prosecutors over the sale of Formula 1.

Bernie Ecclestone has been accused of bribery in Germany.

Prosecutors allege that Gerard Gribkowsky, the man in charge of selling BayernLB's stake in Formula 1, took a $44m (£27m) bribe in 2006.

It is also alleged that Ecclestone received a $41.4m payment from the bank as well as having money transferred into a private family trust.

The F1 chief executive said that he expects to clear his name.

BayernLB sold their share to private equity group CVC Capital Partners, who own the commercial rights to the sport. CVC then became the majority shareholder after purchasing shares from Ecclestone's family.

It will now be decided whether Gribkowsky will stand trial.