Bernie Ecclestone has revealed that he is in discussion with prosecutors investigating payments which were allegedly made to a German banker when the commercial rights to F1 were sold a number of years ago.

Gerhard Gribkowsy was arrested in January having been accused of selling a 48 per cent stake in F1 without proper valuation and then taking payments of some $50 million to help the deal go through.

German media reports had suggested that Ecclestone was involved in the payments being made, although the commercial rights holder has always denied any involvement and insisted he didn't bribe the jailed banker.

Prosecutors haven't accused Ecclestone of having a connection to the payments but the 80-year-old has confirmed that he is assisting with enquiries and is keen to 'clear up any allegations' that have been made.

"I have been cooperating with the State Prosecution Office's investigation of the affairs of Dr Gribkowsky since the outset," he said in a statement issued prior to the Chinese Grand Prix at the weekend. "When I was informed that there was a first suspicion in relation to my perceived involvement in the matter, I went to see the Senior State Prosecutor and her team in Munich earlier this month to clear up any allegations against me.

"I will continue to give the State Prosecution Office my full cooperation in whatever capacity it may ask and I am confident that when the full facts have been established, I will be exonerated of blame for any wrongdoing."