Bernie Ecclestone has been formally indicted by prosecutors in Germany investigating allegations of bribery.
The charges are linked to the role Ecclestone played when F1 was sold to CVC back in 2005, with banker Gerhard Gribkowsky having already been given a jail sentence for corruption over the role he played.
Ecclestone has admitted making payments to Gribkowsky but has always maintained he was doing so having been threatened with blackmail and wasn't simply trying to bribe the now disgraced banker.
Prosecutors have now finished putting together their case however, with Ecclestone's legal team having now been handed a formal indictment.
A response is set to be sent to prosecutors in the coming weeks.
“I have just spoken to my lawyers and they have received an indictment,” Ecclestone told the Financial Times
, “It's being translated into English.
“We are defending it properly. It will be an interesting case. It's a pity it's happened.”
Once Ecclestone's defence team has lodged its response, a decision will then be taken as to whether to push ahead with a court case.
Should the decision be taken to proceed with the case, Ecclestone could be forced to stand down from his position as head of the sport.