Skip to content

Jailed banker tells German court that Ecclestone bribed him

May 13, 2014, 12:41 PM EDT

Formula One Chief Executive Bernie Ecclestone arrives at the High Court in central London in this file photo Reuters

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.

Latest Posts
  1. Mardenborough set for GP2 debut at Monza with Carlin this weekend

    Sep 2, 2015, 2:36 PM EDT

    Photo: NISMO Photo: NISMO

    Jann Mardenborough steps up from GP3 into GP2 this weekend.

  2. James Hinchcliffe describes how inspired he was by Justin Wilson

    Sep 2, 2015, 1:00 PM EDT

    Hinchjw AP

    Hinchcliffe recalls racing, commentating on Justin Wilson.

  3. NHRA: Leah Pritchett climbing mountains as she continues to grow career

    Sep 2, 2015, 12:26 PM EDT

    All Photos: Gumout/Dote Racing All Photos: Gumout/Dote Racing

    Leah Pritchett looks to make her mark even more in NHRA Top Fuel, going into U.S. Nationals.

  4. Dixon: “I don’t think anybody had a stellar season”

    Sep 2, 2015, 11:22 AM EDT

    DixonJPM AP

    Dixon offers a rebuttal to Montoya’s dig about a “poor” season.

  5. Watkins Glen, Baltimore stand out for Stefan Wilson’s favorite race memories of brother Justin

    Sep 2, 2015, 10:11 AM EDT

    Grand Prix Of Baltimore - Day 3 Getty Images

    Stefan Wilson recalls his favorite racing moments of brother Justin.

  6. Hulkenberg: Force India recovery influenced new deal

    Sep 2, 2015, 9:17 AM EDT

    xxxx during qualifying for the Formula One Grand Prix of Belgium at Circuit de Spa-Francorchamps on August 22, 2015 in Spa, Belgium. Getty Images

    Hulkenberg reveals he held talks with Haas F1 Team about a seat for 2016 before opting to remain with Force India.

  7. Takuma Sato ends 2015 on a good note

    Sep 1, 2015, 6:37 PM EDT

    (Photo courtesy TakumaSato.com) (Photo courtesy TakumaSato.com)

    Sato improved four spots in the driver standings over his 2014 result.

  8. Ryan Briscoe finishes short 2015 season with top-five finish

    Sep 1, 2015, 5:25 PM EDT

    Firestone 600 - Practice Getty Images

    Substituting for James Hinchcliffe, Briscoe ended his abridged 2015 with his first top-five finish of the year.

  9. Report: Derrick Walker reflects on IndyCar tenure and future

    Sep 1, 2015, 4:07 PM EDT

    DerrickWalker2

    Walker spoke with racing journalist Gordon Kirby about his two years in charge of competition and operations.

  10. Social Roundup: IndyCar season-ending banquet

    Sep 1, 2015, 2:00 PM EDT

    © INDYCAR © INDYCAR

    A look at the festivities held in San Francisco on Monday night.

  11. Reports: IndyCar’s testing plans for Road America, updates for road course

    Sep 1, 2015, 1:07 PM EDT

    Generac Grand Prix Getty Images

    Track president George Bruggenthies provided details on what to expect at the track next June.

  12. Hulkenberg extends contract with Force India for two more years

    Sep 1, 2015, 9:19 AM EDT

    HulkLaunch15 Getty Images

    Hulkenberg announces two-year extension with Force India F1.

  13. Ten with Townsend: Sonoma and 2015 IndyCar debrief

    Sep 1, 2015, 9:00 AM EDT

    dixonconfetti Getty Images

    NBCSN’s Townsend Bell checks in for the final IndyCar installment of “Ten with Townsend” for 2015, after Sonoma.

  14. Dixon’s latest title a story of consistency, comeback, typical “Ice Man” cool

    Aug 31, 2015, 6:45 PM EDT

    DixonChamp2 AP

    MotorSportsTalk’s Tony DiZinno reflects on the latest championship achieved by Scott Dixon and the Target Chip Ganassi Racing team.

  15. Damien Power hits Sonoma in person, live tweets, preps for IndyCar video series

    Aug 31, 2015, 5:35 PM EDT

    © INDYCAR © INDYCAR

    Damien Power hits Sonoma to meet up with brother Will. Hilarity ensues.

  16. Gabby Chaves confirmed as 2015 IndyCar rookie-of-the-year

    Aug 31, 2015, 12:27 PM EDT

    GCroty15 Getty Images

    Chaves first driver in nearly a decade to win both Indy 500, IndyCar top rookie honors in same season.

  17. Gonzalez delivers huge result for Coyne with No. 18 car’s best finish of ninth

    Aug 31, 2015, 11:59 AM EDT

    © INDYCAR © INDYCAR

    IndyCar’s biggest underdog driver, team has their day at Sonoma.