Ecclestone offered to pay to prevent Munich trial

Bernie Ecclestone

Bernie Ecclestone

Formula 1 Chief Executive Bernie Ecclestone says that he offered to pay more than $40 million to stop the Gerhard Gribkowsky bribery affair.

Writing in the Independent newspaper, Formula 1 business journalist Christian Sylt said that the money Ecclestone used to pay the jailed banker was funded by his commission for the sale of BayernLB’s commercial rights.

Prosecutors allege that Ecclestone¬† bribed Gribkowsky, but the 83-year-old Formula 1 ‘supremo’ says that the jailed German in fact blackmailed him. Either way, Ecclestone admits that he offered to pay the money back.

“I don’t know why I offered to pay back the commission,” he said. “Early on we said [we will do it] if that is what is necessary to get this rubbish out of the way.”

The Munich authority’s indictment against Ecclestone confirms that Ecclestone did in fact offer to pay back the money “including interest”. (GMM)