Ecclestone denies wrongdoing in German investigation

Formula One supremo Bernie Ecclestone has spoken to state prosecutors in Germany investigating alleged illegal payments to a former German bank executive.

Authorities in Munich claim Gerhard Gribkowsky, the former risk manager of German bank BayernLB, undervalued the commercial rights sale of Formula One to CVC Capital Partners five years ago.

The state prosecutors allege Gribkowsky, who was arrested in January on corruption charges, received a US dollar 50million bribe for his actions.

Ecclestone, who handles F1’s commercial affairs on behalf of CVC, is not implicated in any payments and has denied involvement in any wrongdoing.

He issued a statement to the media on Friday night to confirm talks with the Munich state prosecutors were held earlier this month.

“I have been co-operating with the State Prosecution Office’s investigation of the affairs of Dr Gribkowsky since the outset,” Ecclestone’s statement read.

“When I was informed that there was a first suspicion in relation to my perceived involvement in the matter, I went to see the Senior State Prosecutor and her team in Munich earlier this month to clear up any allegations against me.

“I am confident that when the full facts have been established, I will be exonerated of blame for any wrongdoing.”