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. Welcome back, Wilson: Englishman back with Andretti for rest of 2015

    Jul 7, 2015, 11:04 AM EDT

    Justin Wilson AP

    Wilson returns for final five IndyCar races of the year with Andretti Autosport.

  2. IndyCar flashback: Power’s dominance at Milwaukee in 2014 (VIDEO)

    Jul 7, 2015, 9:44 AM EDT

    PowerMKEWin AP

    Will Power dominated Milwaukee in 2014. Here’s how he did it.

  3. Coyne drivers Mann, Vautier set to continue in Milwaukee, Iowa

    Jul 6, 2015, 9:04 PM EDT

    PippaTexas Getty Images

    Degree of continuity at Coyne, as Mann and Vautier confirmed for next two short ovals.

  4. Hargrove wins twice more in Porsche GT3 Canada at Calabogie

    Jul 6, 2015, 5:00 PM EDT

    Photo: IMSA Photo: IMSA

    Scott Hargrove adds two more wins to his record after a one-day sweep of two Porsche races in Canada.

  5. Town or cheese? IndyCar, Indy Lights drivers preview IndyFest (VIDEO)

    Jul 6, 2015, 4:04 PM EDT

    MKEskyline Getty Images

    IndyCar, Indy Lights drivers try to guess towns or cheeses in Wisconsin.

  6. DiZinno: Daytona fence crash ripple effect could extend to other motorsports

    Jul 6, 2015, 2:04 PM EDT

    DillonCrash Getty Images

    The potential ripple effects of Austin Dillon’s catch-fence accident could extend far beyond NASCAR.

  7. Red Bull GRC: Sandell, Dyne deliver Bryan Herta Rallysport first double top-five of year

    Jul 6, 2015, 1:14 PM EDT

    Photo: Bryan Herta Rallysport Photo: Bryan Herta Rallysport

    Sandell, Dyne make it a double top-five for Bryan Herta Rallysport at MCAS New River.

  8. Williams was damned if it did, damned if it didn’t execute team orders on Sunday

    Jul 6, 2015, 11:19 AM EDT

    WilliamsSilverstone Getty Images

    Leading 1-2 early, Williams was almost trapped, rather than able to seize its moment in Silverstone.

  9. Raikkonen drops to P8 in British GP after strategy error

    Jul 6, 2015, 10:00 AM EDT

    Ferrari's Finnish driver Kimi Raikkonen skids off during the British Formula One Grand Prix at the Silverstone circuit in Silverstone on July 5, 2015.       AFP PHOTO / BEN STANSALL        (Photo credit should read BEN STANSALL/AFP/Getty Images) Getty Images

    A gamble on intermediate tires backfires for Kimi Raikkonen at Silverstone.

  10. Race Recap: Hamilton sees off early Williams threat and late rain shower to claim third home victory

    Jul 6, 2015, 9:00 AM EDT

    Mercedes AMG Petronas F1 Team's British driver Lewis Hamilton (L) holds the trophy as he walks in the pits after winning the British Formula One Grand Prix at the Silverstone circuit in Silverstone on July 5, 2015.  
 AFP PHOTO / BEN STANSALL        (Photo credit should read BEN STANSALL/AFP/Getty Images) Getty Images

    The British driver sends the home crowd into raptures with his third Silverstone victory.

  11. Ten with Townsend: Red Bull GRC 4 races in, post-MCAS New River

    Jul 6, 2015, 8:30 AM EDT

    GRCDaytona Getty Images

    After the latest Red Bull GRC round, we catch up with NBC Sports Group motorsports analyst Townsend Bell for a special Red Bull GRC installment of “Ten with Townsend.”

  12. Smiling Through the Rain: Silverstone proved that it isn’t all doom and gloom in F1

    Jul 6, 2015, 8:00 AM EDT

    NORTHAMPTON, ENGLAND - JULY 05:  Fans cheer Lewis Hamilton of Great Britain and Mercedes GP after his victory in the Formula One Grand Prix of Great Britain at Silverstone Circuit on July 5, 2015 in Northampton, England.  (Photo by Clive Mason/Getty Images) Getty Images

    Luke Smith gets a little patriotic following his home grand prix, explaining why F1 could stand to be a little more British in its mentality.

  13. Ken Block seizes opportunity, wins Red Bull GRC at MCAS New River

    Jul 5, 2015, 6:00 PM EDT

    BlockMCASwin Getty Images

    Block wins at MCAS New River, Round 4 of the Red Bull GRC season.

  14. FIA stewards take no action over five-car incident on first lap of British Grand Prix

    Jul 5, 2015, 5:00 PM EDT

    xxxx during the Formula One Grand Prix of Great Britain at Silverstone Circuit on July 5, 2015 in Northampton, England. Getty Images

    Grosjean, Ricciardo, Maldonado, Alonso and Button all cleared of any wrongdoing after first lap incident.

  15. WATCH LIVE: Red Bull GRC from MCAS New River at 5 p.m. ET on NBC

    Jul 5, 2015, 4:00 PM EDT

    OMSEdaytona Getty Images

    Before NASCAR resumes on NBC from Daytona, see Red Bull GRC pick up its season from its first race after Daytona, at MCAS New River.

  16. F1 Paddock Pass: British Grand Prix post-race (VIDEO)

    Jul 5, 2015, 3:06 PM EDT

    xxxx during the Formula One Grand Prix of Great Britain at Silverstone Circuit on July 5, 2015 in Northampton, England. Getty Images

    Will Buxton brings you all of the post-race interviews and analysis at Silverstone.

  17. Alonso takes “small joy” from first point of 2015 season

    Jul 5, 2015, 3:00 PM EDT

    xxxx during the Formula One Grand Prix of Great Britain at Silverstone Circuit on July 5, 2015 in Northampton, England. Getty Images

    P10 at Silverstone gets Alonso off the mark in 2015.

  18. Manor scores best result since Monaco 2014 at Silverstone

    Jul 5, 2015, 2:00 PM EDT

    NORTHAMPTON, ENGLAND - JULY 04:  Will Stevens of Great Britain and Manor Marussia drives during final practice for the Formula One Grand Prix of Great Britain at Silverstone Circuit on July 4, 2015 in Northampton, England.  (Photo by Clive Mason/Getty Images) Getty Images

    Roberto Merhi and Will Stevens finish 12th and 13th at Manor’s home race.