Bernie Ecclestone Paid Bribes During F1 Sale, According to German Banker

German banker Gerhard Gribkowsky has said in court that he accepted bribes from Bernie Ecclestone during the sale of Formula 1 from the BayernLB bank to CVC Capital Partners. 

During the Formula 1 sale corruption trial, Gribkowsky said that allegations that he received $56 million in bribes from Ecclestone were "essentially true." He went on to say that in May 2005 Ecclestone told him "the practice in Formula 1 is that you scratch my back and I scratch yours."

Gribkowsky was the head risk offer of the BayernLB bank that was selling its stake in Formula 1 in 2005 and 2006. He is facing between nearly 8 years and 9 years in prison for the offense. 

According to Ecclestone, he paid the money not as a bribe but as payment for blackmail. He says that Gribkowsky threatened to tell UK tax officials about a trust controlled by Ecclestone's wife. He says that Gribkowsky also asked for a job if he sold BayernLB's stake to CVC. 

"The poor guy has been banged up for 18 months. He would have said anything to save himself. He was going to be locked up whatever happens," said Ecclestone.

Gribkowsky is on trail not for actually taking the money, however it came to him, but because he did not pay taxes on it. 

German authorities are now in the process of investigating Ecclestone for the alleged pay off. 

At the time, BayernLB owned a 47% stake in Formula 1 that it was attempting to sell. CVC paid €840 million to the bank for the portion of F1. 

Source: Autosport and Buinessweek