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Ecclestone to face bribery charges Formula 1: Ecclestone to face bribery charges
(35 minutes later)
Formula 1 boss Bernie Ecclestone will be tried on bribery charges, a court in Munich has ruled.Formula 1 boss Bernie Ecclestone will be tried on bribery charges, a court in Munich has ruled.
Mr Ecclestone is accused of making a $45m bribe to a German banker, Gerhard Gribkowsky, who is serving a jail sentence for receiving the payment.Mr Ecclestone is accused of making a $45m bribe to a German banker, Gerhard Gribkowsky, who is serving a jail sentence for receiving the payment.
Prosecutors allege that the payment was to ensure that F1 was sold to a private equity group of Mr Ecclestone's choice.Prosecutors allege that the payment was to ensure that F1 was sold to a private equity group of Mr Ecclestone's choice.
The F1 boss admits paying Gribkowsky but denies bribery, claiming he was effectively the victim of blackmail.The F1 boss admits paying Gribkowsky but denies bribery, claiming he was effectively the victim of blackmail.
Mr Ecclestone has been defending himself in a £90m ($147m) civil claim in London's High Court. Mr Ecclestone has been defending himself in a separate £90m ($147m) civil claim in London's High Court.
That case was brought by a German media company, Constantin Medien, who claim they lost out financially when the sport was sold in 2006 to private equity group CVC.That case was brought by a German media company, Constantin Medien, who claim they lost out financially when the sport was sold in 2006 to private equity group CVC.
Mr Ecclestone and Gribkowsky, who was on the board of German bank Bayern Landesbank, were accused in court of conspiring to deliberately undervalue F1 when it was sold, in order that Mr Ecclestone would retain control of the sport.Mr Ecclestone and Gribkowsky, who was on the board of German bank Bayern Landesbank, were accused in court of conspiring to deliberately undervalue F1 when it was sold, in order that Mr Ecclestone would retain control of the sport.
A statement from Bavaria's district court said that a trial date had not yet been set, but that proceedings were likely to begin in late April. The F1 boss told the High Court that he made the payment because the banker had been threatening to reveal false details of his tax affairs.
A statement from Bavaria's district court said that a trial date for the criminal trial had not yet been set, but that proceedings were likely to begin in late April.
Mr Ecclestone is charged with bribery and incitement to breach of trust.
The chief executive of F1 has ruled the sport for almost four decades. He is the long-time commercial rights holder of F1, but sold off a majority of the ownership in the 1990s.