Why would Bernie need to bribe anyone?

(L to R): Bernie Ecclestone (GBR) F1 Supremo and Dr Gerhard Gribkowsky, the majority shareholder of SLEC holdings.  Formula One World Championship, Rd14, Turkish Grand Prix, Qualifying Day, Istanbul Park, Turkey, 20 August 2005. DIGITAL IMAGE

Bernie Ecclestone with Gerhard Gribkowsky

Apr.18 (GMM) Munich prosecutors may suspect that F1 supremo Bernie Ecclestone got involved in the Gribkowsky corruption affair in order to safeguard his top job in the sport, according to a newspaper report.

Having apparently skipped the Chinese grand prix, the Formula 1 chief executive issued a statement this weekend confirming he was recently in Germany to answer suspicions of his involvement in the mysterious $50-million payment to a banker.

Dr Gerhard Gribkowsky was intricately involved in BayernLB’s decision to sell its stake in Formula 1’s commercial rights to the sport’s current owner CVC.

“It is unclear why Ecclestone would have to do that (pay a bribe),” wrote Hans Leyendecker, Klaus Ott and Nicolas Richter in a detailed report in the Sueddeutsche newspaper.

“Perhaps it was to stay in charge of the (F1) series,” they speculate.

  • Bec

    First they charge Gribkowsky with undervaluing the shares, which proves false, as Bayern’s own records show, and the fact that CVC paid more money than Hutchison Whampoa and Clearbrook Capital offered.

    Then they try and charge Gribkowsky with receiving a bribe to keep Mr.E as chairman, but as the company records show Bayern knew Mr.E would stay on because, “Bernie Ecclestone is to retain operating control to continue growing the business,” Was in the sale information.

    So then the prosecutors try ‘breach of trust’.
    But as Bayern paid the money to Gribkowsky through Bambino Holdings for consultancy work for which the prosecutors have the documentation, that is set to collapse too.