F1

F1 rights sale saga worsens for Ecclestone

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Bernie Ecclestone is the subject of ever-worsening claims about the sale of F1's commercial rights five years ago. It has already been alleged that it was the sport's chief executive and long-time 'supremo' who paid German banker Gerhard...

Bernie Ecclestone is the subject of ever-worsening claims about the sale of F1's commercial rights five years ago.

It has already been alleged that it was the sport's chief executive and long-time 'supremo' who paid German banker Gerhard Gribkowsky a mysterious $50 million kickback.

And the latest explosive details have been published by the German weekly Der Spiegel.

The report said F1's current owner CVC Capital Partners paid $837 million for the share of the rights that at the time was controlled by the Munich bank BayernLB.

But BayernLB reportedly only received $770 million.

Der Spiegel alleges that $40 million was received directly by Ecclestone, with the other $27m flowing to his family trust Bambino.

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