Bernie Ecclestone will provide evidence during the Gribkowsky trial

Gerhard Gribkowsky is accused of two different charges related to the sale of F1 commercial rights in 2006. The first involves a corruption charge, through a payment of 44 million dollars made by Bernie Ecclestone. Initially, investigators believed that the payment aimed to lower the sale price of these 47.2%. However, since Bernie Ecclestone was not a buyer, he had no interest in lowering the transaction price. The new lead being followed is that Gerhard Gribkowsky blackmailed the chief financier, threatening to reveal false information to the British tax authorities about the shareholding structure of his various companies.

Today, Bernie Ecclestone claims to The Independent that the payment was not intended to persuade Gribkowsky to sell F1 to CVC to keep him in charge of the sport since he was assured of being retained: « I had a contract with Bayern LB so they couldn’t fire me. CVC bought the contract. So, they also had to keep me. I will be a witness during the trial. I have been to Munich and been questioned. So, I assume they want to ask me the questions I answered. This is what normally happens in court. Sacha Woodward-Hill (the legal director of F1) must also come. »

The second aspect of the case relates to the fact that this payment was made to an Austrian bank account without the German banker reporting it to the tax authorities across the Rhine. This results in a charge of tax fraud, as Austrian tax laws are more favorable than those in his country of residence. The fact that he did not inform his employer of this payment (despite it being directly related to his job at Bayern LB) also constitutes a breach of trust.

The judicial deadline is approaching, which will provide a definitive answer to all the questions surrounding the sale of F1 to CVC as rumors of a future takeover have multiplied in recent months, and negotiations for the next Concorde Agreements are set to begin soon.

With the participation of RacingBusiness.fr