Formula One magnate Bernie Ecclestone faces bribery charges when his trial begins in Munich on Thursday in a case which threatens to end his reign.
The 83-year-old denies charges of bribery and abetting breach of trust in relation to a $44 million payment he made to former German banker Gerhard Gribkowsky, which was linked to the sale of Formula One's rights in 2006.The 256-page indictment against the octogenarian billionaire leaves the impression he wanted to protect his empire at all costs. Ecclestone has reduced his role in the running of Formula One pending the outcome of the trial and plans to be in court two days per week.
He missed Sunday's Chinese Grand Prix in Shanghai to prepare and Formula One's future could be determined by events in the Munich regional court room.The complex case revolves around Formula One rights held by the German bank BayernlB and sold to Britain's CVC Capital Partners for $830 million in 2006.Ecclestone received a $66-million commission from Gribkowsky as part of the deal, then allegedly gave him back $44 million (£27m). Prosecutors suspect this was meant to ensure that CVC would get the rights, which would allow Ecclestone to maintain more control over Formula One business.