May 13, 2014, 12:41 PM EDT
Today in Munich, imprisoned banker Gerhard Gribkowsky told a courtroom that Formula One boss Bernie Ecclestone gave him a $44 million bribe over the sale of a stake in the sport.
Ecclestone is accused of giving that alleged bribe to Gribkowsky in order to help move along the sale of German bank BayernLB’s former F1 stake to CVC Capital Partners almost a decade ago.
Gribkowsky, now the star witness for the prosecution, is serving an eight-and-a-half year jail sentence for accepting the money and for tax evasion.
Ecclestone has admitted to the payments, but has consistently maintained that Gribkowsky was threatening to make false reports about him to tax authorities.
According to Reuters, Gribkowsky – who started giving evidence in the trial last Friday – said through an interpreter that “the offer clearly came from him,” meaning Ecclestone.
He also added, “I had a carrot dangled in front of me. I grabbed the carrot.”
As for the matter of what Ecclestone expected in return for the payment, Gribkowsky said “that remained vague.”
Additionally, the banker admitted to spreading rumors about Ecclestone’s tax status but denied the allegations of blackmail from the British billionaire, who faces not only a possible 10-year jail term but the end of his decades-long reign over F1.
“We didn’t have anything concrete,” Gribkowsky said on those rumors. “It was mainly nuisance value.”
Last November, CVC (which owns a 35 percent stake in the sport) said that it was ready to fire Ecclestone if he is found guilty of any charges against him.
“He told me he had never lied to me and I must say that I had trouble believing you could forget payment of $40 million,” CVC co-founder Donald Mackenzie told the High Court in London at that time.
May 25, 2015, 1:00 PM EDT
The Mercedes-affiliated youngster clinches his first win of the season around the legendary streets of Monaco.
May 25, 2015, 12:00 PM EDT
After a miserable run of form, Latvala finally climbs to the top step of the podium with a narrow win over Sebastien Ogier in Portugal.
May 25, 2015, 11:30 AM EDT
Andretti ends sixth, best of the day for the defending Indy 500-winning team, while Hildebrand leads the one-off drivers.
May 25, 2015, 11:00 AM EDT
Running inside the top ten, Grosjean’s hopes of points were dashed on Sunday in Monaco when Max Verstappen crashed into him.
May 25, 2015, 10:11 AM EDT
Townsend Bell’s final blog for the Indianapolis 500 touches on family, meeting Jeff Gordon, and a crazy view from the driver’s seat.
May 25, 2015, 10:00 AM EDT
A sixth-place finish in Monaco disappoints Raikkonen, but he lays blame with his poor qualifying form.
May 25, 2015, 9:48 AM EDT
One of Simon Pagenaud’s best oval races to date ends P10 after running top three most of race.
May 25, 2015, 9:00 AM EDT
The win may have come by accident, but Rosberg etched his place in F1 history on Sunday.
May 25, 2015, 8:00 AM EDT
The Red Bull boys finish fourth and fifth in Monaco to give the team something to smile about after a tough start to the season.
May 25, 2015, 1:04 AM EDT
Sunday’s winners of the NHRA Kansas Nationals were Jack Beckman (Funny Car), Richie Crampton (Top Fuel) and Erica Enders-Stevens (Pro Stock).
May 24, 2015, 8:42 PM EDT
Video recap of Montoya’s win at Indianapolis 500.
May 24, 2015, 7:47 PM EDT
In his second win at the Brickyard, the Team Penske driver delivered a performance that embodies his style.
May 24, 2015, 7:31 PM EDT
The latest Paddock Pass is now online.
May 24, 2015, 7:24 PM EDT
Once again in 2015, it’s Graham Rahal and Rahal Letterman Lanigan Racing best of Honda’s brigade.
May 24, 2015, 7:12 PM EDT
A good, but not great day, occurs for Indianapolis 500 polesitter Scott Dixon.
May 24, 2015, 6:30 PM EDT
Kimball drives from 14th to third, a career-best in the Indianapolis 500.
May 24, 2015, 5:30 PM EDT
Montoya extends IndyCar points lead after Indianapolis 500.
May 24, 2015, 5:11 PM EDT
Power does what he needs in the Indianapolis 500, but comes up short at the finish.
May 24, 2015, 3:38 PM EDT
Montoya completes comeback and wins Indianapolis 500.
May 24, 2015, 3:30 PM EDT
For the first time since the 2013 Brazilian Grand Prix, Williams fails to score any points as Bottas and Massa struggle to P14 and P15.
- Bell: “A wild Indy 500 without the finish we desired” 0
- Rosberg joins Hill, Prost and Senna as Monaco three-peat winners after gifted victory 0
- Ryan: Juan Pablo Montoya comes full circle at Indianapolis 1
- F1 Paddock Pass: Monaco Grand Prix post-race (VIDEO) 2
- Montoya rallies for second Indianapolis 500 victory (VIDEO) 8
- Hamilton: Impossible to express how I feel after Monaco defeat 4
- Rosberg lucks in to third straight Monaco GP win after Mercedes’ mistake costs Hamilton victory 52