Ecclestone rejects bribery claims as trial begins

Formula One boss Bernie Ecclestone has rejected accusations of bribery as he went on trial in a case that could threaten his grip on the sport.

He told a Munich court that he was blackmailed by a German banker who received a disputed €32m payment.

Ecclestone said at the beginning of a four-hour personal statement read out in German by his lawyers that he was “grateful” to be able to give his side of the story — though he told judges that he would answer questions from the Munich state court through his lawyers, rather than personally.

The 83-year-old is charged with bribery and incitement to breach of trust, and could face up to 10 years in prison if convicted. The charges involve a €32m payment to banker Gerhard Gribkowsky, who is serving an eight-and-a-half-year sentence for taking the money.

Ecclestone said that “from today’s point of view, it was not a rational decision” to pay Gribkowsky.

Prosecutors allege the payment was meant to facilitate the sale of Munich-based bank Bayern LB’s stake in Formula One to a buyer of Ecclestone’s liking. Gribkowsky was in charge of selling that 47% stake in F1 in 2005.

Ecclestone gave evidence during the 2011 trial of Gribkowsky, who is expected to be the main witness during Ecclestone’s trial, which is scheduled to last until September 16.

Gribkowsky was found guilty of corruption, tax evasion and breach of trust in a trial led by the same judge who is hearing Ecclestone’s case, Peter Noll.

The defence will attack Gribkowsky’s credibility, and Ecclestone said in his statement that the banker did not tell the truth.

The trial will continue on May 2.