gerhard gribkowsky

Bernie Ecclestone has given the first explanation for his $44m 'payment' to disgraced banker Gerhard Gribkowsky.

German banker Gerhard Gribkowsky has been handed an eight-year jail term for crimes including accepting bribes from F1 ringmaster Bernie Ecclestone.

It has been reported that investors in CVC Capital Partners are beginning to get 'worried' by the lack of communication from F1's majority owners over the current 'bribery' scandal rocking the sport

There have been further claims and counter-claims in the corruption scandal that has rocked F1 in recent weeks, with suggestions now that the shares sold to CVC Capital Partners in 2006 were not undervalued after all

F1's majority owner CVC Capital Partners has issued a statement to assure that it has 'no knowledge' of the current fraud and corruption scandal involving Gerhard Gribkowsky, the former head of the sport's holding company SLEC