Ecclestone indicted for bribery

London, July 17 (IANS) German prosecutors Wednesday indicted Formula 1 boss Bernie Ecclestone on bribery charges and he now faces a trial in Munich.

The 82-year-old British magnate could be in prison after Munich prosecutors charged him with paying $44 million to German banker Gerhard Gribkowsky vis-a-vis sale of the Formula 1 rights in 2006, BBC reports.

Ecclestone admitted paying Gribkowsky but denied it was a bribe. The German has been sentenced to eight and a half years in prison.

The Englishman, who has been controlling the sport for 40 years, told the Financial Times that he saw the indictment coming.

"I have just spoken to my lawyers and they have received an indictment. It's being translated into English. We are defending it properly. It will be an interesting case. It's a pity it's happened. If someone wants to sue you, they can do it and you have to defend it," said Ecclestone.

He has time till August to challenge the charges.

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