May 13, 2014, 12:41 PM EST
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.
Jan 31, 2015, 4:01 PM EST
Jeff Gordon wanted to see his successor continue on the legacy of the No. 24 car. Chase Elliott is happy to continue that tradition.
Jan 31, 2015, 4:00 PM EST
Mexican driver is excited for the return of his home grand prix in November, even if he won’t be racing.
Jan 31, 2015, 3:30 PM EST
News and notes after Indy Lights wraps up its week of testing in Homestead.
Jan 31, 2015, 3:21 PM EST
Richard Childress Racing and Matt McCall have reached settlement on a lawsuit that sought to keep McCall from becoming Jamie McMurray’s crew chief for the 2015 season.
Jan 31, 2015, 3:00 PM EST
Mexican driver feels that Force India’s hunger can take the team up the grid this year.
Jan 31, 2015, 2:30 PM EST
Kenseth and DeWalt are back together, and the six-race sponsorship dates are revealed.
Jan 31, 2015, 2:00 PM EST
Ron Dennis makes clear that Alonso is locked into his new contract with the British team.
Jan 31, 2015, 1:30 PM EST
Herald Scotland checks in with Dario Franchitti on his new life outside the cockpit.
Jan 31, 2015, 1:00 PM EST
Prepare for round two with Hamilton and Rosberg as they set their goals for the season ahead.
Jan 31, 2015, 12:30 PM EST
With a combined age of 37, Max Verstappen and Carlos Sainz Jr. forge the youngest line-up in F1 history in 2015.
Jan 31, 2015, 12:00 PM EST
Patriots or Seahawks? NASCAR’s top drivers make their picks for Sunday’s Big Game.
Jan 31, 2015, 11:30 AM EST
Watch a time lapse video of how the Ferrari SF15-T gets stickered up in advance of the 2015 season.
Jan 31, 2015, 11:21 AM EST
Max Verstappen and Carlos Sainz Jr. lift the covers from the team’s 2015 car, marking its tenth year in F1.
Jan 31, 2015, 10:30 AM EST
Highlights from the special event featuring NASCAR drivers and former NFL stars.
Jan 31, 2015, 10:00 AM EST
He may have risen rapidly up to a seat at Red Bull, but Daniil Kvyat is not feeling under pressure.
Jan 31, 2015, 9:00 AM EST
All of the information you need for the first official F1 test of the year.
Jan 31, 2015, 8:00 AM EST
Despite the team enjoying a record-breaking year in 2014, Hamilton is confident that Mercedes can extend its advantage in the new season.
Jan 31, 2015, 12:23 AM EST
Wendell Scott’s induction to the NASCAR Hall of Fame completed a long journey for his family.
Jan 30, 2015, 10:44 PM EST
Five NASCAR legends achieve the sport’s highest honor.
Jan 30, 2015, 9:30 PM EST
CLICK HERE for stream links to the special event involving former NFL greats and NASCAR drivers.
- Toro Rosso reveals STR10 ahead of Jerez test 0
- Long: Journey for Wendell Scott’s family ends with a kiss (VIDEO) 0
- Elliott, Lorenzen, White, Scott, and Weatherly enter NASCAR Hall of Fame (VIDEO) 0
- NASCAR Media Tour Content Recap: All posts, one place 0
- Gridiron Challenge: NASCAR drivers take football stars for a spin (VIDEO) 1
- Hall of Fame Induction Ceremony headlines 6.5 hours of NASCAR on NBCSN 0
- Ferrari reveals SF15-T for 2015 Formula 1 season 5