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 3, 2015, 8:42 PM EDT
Day one of the month of May is in the books at the Indianapolis Motor Speedway.
May 3, 2015, 5:00 PM EDT
Could we see the Iranian Grand Prix join the F1 calendar in years to come?
May 3, 2015, 3:30 PM EDT
Lotus technical director Nick Chester expresses his confidence in the upcoming upgrade package for the E23 Hybrid car.
May 3, 2015, 2:11 PM EDT
A run through of new driver firesuits and liveries thus far on the first day of practice for the Indianapolis 500.
May 3, 2015, 2:00 PM EDT
Ex-Force India driver di Resta picks up his first podium finish since returning to DTM in 2014.
May 3, 2015, 1:31 PM EDT
Indianapolis 500 practice is officially underway.
May 3, 2015, 12:45 PM EDT
Spanish rider wins on home soil as Valentino Rossi scores his 200th podium finish.
May 3, 2015, 12:26 PM EDT
Conor Daly’s “Fueled by Bacon” No. 43 Smithfield Foods Honda is revealed.
May 3, 2015, 11:30 AM EDT
The no. 19 crew fights back at Spa to finish sixth overall after six hours of racing.
May 3, 2015, 10:15 AM EDT
Venezuelan driver returns to the site of his only grand prix victory next weekend.
May 2, 2015, 8:57 PM EDT
Last-lap pass by co-driver Andrew Carbonell allows Sgt. Liam Dwyer to celebrate win with Sgt. Aaron Denning, the man who saved his life.
May 2, 2015, 5:10 PM EDT
Franzoni makes the leap into Pro Mazda.
May 2, 2015, 4:30 PM EDT
Red Bull driver speaks about the Circuit de Barcelona-Catalunya, which will play host to the Spanish Grand Prix next weekend.
May 2, 2015, 3:31 PM EDT
Benoit Treluyer, Marcel Fassler and Andre Lotterer claim their second win of the WEC season at Spa.
May 2, 2015, 1:30 PM EDT
The former world champions may have fallen from grace, but Horner says that defeat is only motivating the team.
May 2, 2015, 12:42 PM EDT
Chevrolet takes wraps off its manufacturer super speedway aero kit.
May 2, 2015, 12:00 PM EDT
Grosjean has scored more points in the last two races then he did in all of 2014.
May 2, 2015, 11:20 AM EDT
ARCA Series driver Brad Smith is recovering from surgery following a wreck in Friday’s International Motorsports Hall of Fame 200 race at Talladega Superspeedway.
May 2, 2015, 11:00 AM EDT
Spanish rider secures his first pole position of the season on home soil.
May 2, 2015, 9:30 AM EDT
6 Hours of Spa to retain May slot until 2018.
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