Guardian/James Callow Bernie Ecclestone to learn whether he will face corruption charges Ecclestone accused of paying $50m bribe to German banker ⢠F1 commercial rights holder says he has done nothing wrong Bernie Ecclestone, Formula One's commercial rights holder, will on Wednesday learn whether he will be summoned to defend himself against corruption charges in a German court. Prosecutors are attempting to gather evidence to stand up allegations that Ecclestone paid a $50m (£31m) bribe to Gerhard Gribkowsky, a former chief risk manager of the state-owned BayernLB bank, during the sale of a stake in the sport to the private equity firm CVC Capital Partners in 2006. Prosecutors allege that Gribkowsky persuaded the bank to sell its stake "without evaluation of its current value" and that "two consultancy contracts totalling $50m" were paid to an Austrian company registered in his name. Gribkowsky, who has been held in a Munich prison since January, claims that he received this money from Ecclestone. A nominal deadline for prosecutors to file charges against Ecclestone and Gribkowsky passed on Tuesday. Ecclestone, 80, who travelled to Germany in April to speak with the prosecutors, said he has no case to answer. "I have done nothing so I have no idea what charges they could bring," he told the Times. "I have done what I had to do at all times during this investigation and I have co-operated fully with the people in Germany. As far as I am concerned there are no problems." http://www.guardian.co.uk/sport/2011/jul/06/bernie-ecclestone-f1 TELEGRAPH - By Tom Cary, F1 Correspondent Bernie Ecclestone to discover if he will be charged with 'aiding and abetting' German banker's breach of trust Bernie Ecclestone, Formula Oneâs chief executive, is set to discover imminently whether he will be charged by Munich prosecutors with âaiding and abettingâ a German bankerâs breach of trust. Gerhard Gribkowsky, formerly chief risk manager of state-owned BayernLB, who had a stake in the sport at the time, oversaw F1âs sale to private equity firm CVC Capital Partners in 2006. He was arrested on Jan 5 with $50 million of unexplained funds in an Austrian company registered in his name. Prosecutors allege that Gribkowsky led the bank to sell its stake âwithout evaluation of its current valueâ which, in turn, earned him âtwo consultancy contracts totalling $50 millionâ. Gribkowsky claims he received this money from Ecclestone. Gribkowsky has been held in Munichâs notorious Stadelheim prison, where Hitler spent time in 1922 for disturbing the peace, since Jan 5 as the prosecutor decides whether to bring charges against him and Ecclestone, who has been accused of âaiding and abettingâ. Ecclestone, 80, travelled to Germany in April to speak to the prosecutor. âI am confident that when the full facts have been established, I will be exonerated of blame for any wrongdoing,â he said at the time. The deadline for a decision on whether to press charges or release Gribkowsky was due yesterday, six months after his arrest, but it is understood that that deadline is not hard and fast. Sources in Germany suggested that a decision may not be taken until early next week or even later. Certainly before the German summer holidays, which start at the end of the month. Speculation that a decision might be forthcoming gathered pace on Tuesday when a website with strong links to Ecclestone published a story saying that it âexpectedâ Ecclestone to be âcharged today with aiding and abettingâ. Telegraph Sport understands that Gribkowsky will certainly be indicted for tax evasion but that Ecclestone has been offered the opportunity to cooperate with the prosecutor by supplying evidence against Gribkowsky, in return for a lighter sentence. This would most likely be in the form of a financial penalty. If he has not cooperated Ecclestone may also be charged and a European arrest warrant issued, forcing him to stand trial in Germany. Ecclestone told Telegraph Sport on Tuesday night that he did not know of the six-month deadline for releasing or charging Gribkowsky. âIâve not heard anything,â he said. Asked if he expected to be charged, or had received notification that he was to be charged, he added: âAs long as itâs not too much. Iâm only joking. I honestly donât know what for because I havenât done anything wrong.â If Ecclestone is charged it is unclear what effect it might have on any possible takeover of the sport. Rupert Murdochâs News Corporation has already confirmed that it is part of a consortium investigating the possibility of buying the sport from CVC. Negotiations over a new Concorde Agreement â the three-way commercial contract which binds the teams, the governing body and the commercial rights holder â are at a delicate stage with only 18 months left to run. The teams have also mooted their desire to buy a stake in the sport, although Ecclestone recently ridiculed that suggestion. âVery few of them have got enough money to run their teams [let alone buy a stake],â he said. One thing is clear. All eyes will be watching developments in Germany very closely. http://www.telegraph.co.uk/sport/motorsp....h-of-trust.html Also: PITPASS - Gribkowsky Decision Due http://www.pitpass.com/44102-Gribkowsky-decision-due http://www.pitpass.com/44102-Gribkowsky-decision-due
As Bernie seems to have passed all the negotiating over to Flabio then probably neither of them will be bothered if any deals are sorted.
Maybe if he gets done, that'll offer us a chink of light.. Wasn't one of the main reasons why Flavio took a back seat for a while because of his F1 ban and the Fit and Proper Persons test? He only started to come back after he won his appeal. If Bernie also gets done for corruption in another sport, surely that would rule him out of being on the board (let alone the main shareholder) of our club under the same test? ... Or is that just wishful thinking??
Think you're right, Kaspers - but the uncertainties are - how long a criminal trial in Germany would take to resolve - in this country, I should think it could take a year or more - unless and until found guilty, Eccles would presumably not fail the Fit and Proper person test
This is interesting. Flav got a two year ban for Fi race fixing and now this. You would like to think THAT if found guilty, the Premier League's Fit and Proper Test for Owners would consider doing further tests on these two owners of QPR. You would also wonder whether any solicitor working for the Mittals would bring this up in any take over negiotiation. Still, mabe Flav will get his mate a "boutique black and white stripey jump suit for prison" IF he went down
Again youre all getting ahead of yourselves. Firstly Bern hasn't been found guilty of anything, and in the unlikely event that he is, article refers to a financial penalty. Either way I can't see how this would affect a takeover / sale. The Premier League cannot / will not insist they sell the club before being allowed to play Bolton........ If you're gonna pin your hopes on something it will have to better than this. Anyway lunch beckons. Dim sum looking favourable at the moment
Briatore: done for the car crash cheat. Paladini: done for cheating the fans and club money. Ecclestone: accused of bribery and corruption. Fit and proper... what ever next?
Sadly, I think that you're probably right there Goldhawk and WBA2QPR3.. In reality I don't think that there's much chance, if any, of all this affecting the fit and proper persons test.. Still, I can dream!
