Ecclestone Prepared To Testify At F1 Bribery Trial In October
F1 CEO BERNIE ECCLESTONE said that "he is prepared to testify in a trial," which will take place at London's High Court in October concerning a $44M bribe, according to Sylt & Reid of the London TELEGRAPH. The bribe was allegedly paid to German banker GERHARD GRIBKOWSKY "to steer the sale" of F1 to current owner, private equity firm CVC. The case has been brought by former part owner of F1 Constantin Medien, which claims that Ecclestone and Gribkowsky "conspired to undervalue F1 when it was sold to CVC" in '06 for $1.7B. Ecclestone said, "I'm prepared to give evidence in court and there will be a few others [who do so] as well. I wish they would bring it forward. It's going to be amusing." Ecclestone "has not been charged with any wrongdoing in Germany," but Constantin Medien has filed a civil suit against him in the U.K. (TELEGRAPH, 1/14).