Bernie Ecclestone steps down as director of Formula 1's holding company

Bernie Ecclestone has stepped down as director of Formula 1 holding company pending the outcome of a bribery trial.

The Formula 1 supremo has been charged in relation to a secret payment said to be worth £27m to German banker Gerhard Gribkowsky, who was involved in the 2005 sale of F1 to current owners CVC Capital Partners.

The 83-year-old will continue to run Formula 1 business on a day-to-day basis, but he has removed himself from his position as a director of the holding company until the conclusion of the trial.

The trial is said to have been provisionally given a start date of April 23.