Bernie Ecclestone accused of bribery

Bernie Ecclestone accused of bribery
© 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.

You May Like
Recomended from Sports Mole

Login, I already have my ad-free pass
Log in with Facebook to customise Sports Mole
Buy ad-free access (show me the options)
Buy monthly ad-free access for £1.20/month
Buy yearly ad-free access for £12 (2 months free)
Settings - Logout - Manage your account
Settings - Logout - Manage your account