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Ecclestone: I paid Gribkowsky to keep calm

While Ecclestone is estimated to be worth about £2.5bn, Slavica acquired a fortune, worth around £750m, as a result of their divorce. The wedding in question featured performances by the Royal Philharmonic Orchestra and pop group The Black Eyed Peas, while the bride's dress was worth around £80,000 and guests quaffed wine that cost £4000 a bottle.....

Gribkowsky is expected to remain on trial for several weeks, having allegedly cost BayernLB around £57m and pocketed £30m. Prior to CVC's purchase, the bank had shared a 75 per cent stake in F1 holding company SLEC with fellow financial institutions JP Morgan and Lehman Brothers, and Ecclestone's family trust Bambino. The stake had previously belonged to German media company Kirch, which was in debt to the banks to the tune of more than £1.5bn. Ecclestone remained as a hands-on director following CVC's buy-in, and it is this role and CVC's acquisition that are thought to have been behind Ecclestone's payment to Gribkowsky.

While Ecclestone flew to Abu Dhabi after his appearance, his former lawyer, Stephen Mullens, is expected to appear in court today [Friday] to give evidence about alleged bribes paid to Gribkowsky regarding the sale of F1 to CVC. Mullens is Ecclestone's long-term business partner and legal adviser and, until the Gribkowsky scandal broke, held various directorships at F1-related companies. He has been named as a defendant in a separate £100m civil claim being brought against Ecclestone by another former F1 stakeholder, Constantin Medien.




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Bernie Ecclestone (GBR)
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jim - Unregistered

November 11, 2011 9:12 PM

Once Bernie leaves, retires or passes the main F1 teams will break away and form their own series. That will be the real F1, less rules with more money controlled by the teams. Why allow others to profit from the sport when you can spend it all innovating.

Fuzzmadness

November 11, 2011 5:36 PM

First post on crash.net from myself, I've been a huge fan of motorsport for 30+ years 2 wheels and 4. Let's not forget he was granted immunity before testimony! This always stinks and is normally only used when a guilty party is needed to testify against another guilty party e.g Mafia and other crime syndicates well criminals in general.. If you didn't do it why pay up or get given immunity. I'm not going to slander him but their is a lot of forgotten/hidden and re-written history with this guy and the old guard of F1.



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