According to legal papers, the alleged bribes resulted in Bayern’s 47pc in F1
being sold to CVC for $814m rather than the $2.8bn it was really worth.
The material undervaluation is alleged to have lost previous owners of F1
Constantin Medien roughly $171m in a profit share agreement.
Mr Ecclestone has claimed he was strong-armed into making the payments under
pressure from Dr Gribkowsky. Court documents dispute that view.
“Mr Ecclestone’s allegation that the payments related to threats…rather
than to the disposal of the BayernLB holding is untrue.”
Instead the case brought by German media group Constantin Medien alleges Mr
Ecclestone was attempting to retain control of the sport.
“It is to be inferred Mr Ecclestone’s motivation for promoting the
acquisition by CVC was to safeguard his practical control of the Formula 1
companies.”
Mr Eccelstone did not return calls. Keith Oliver, partner at City lawyer
Peters Peters representing Constantin Medien did not comment.