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Ecclestone prepared to fight claims in court
Thursday 25th October 2012, 22:05 by Ryan Wood
Formula One CEO Bernie Ecclestone
Bernie Ecclestone says he is prepared to fight German bank BayernLB in court following the company's claim it is owed £320 million in lost earnings from the sale of the sport back in 2006 to CVC.
The sale has recently been under the spotlight after it came to light that former banker Gerhard Gribkowsky, who worked for BaynerLB as a risk officer, had allegedly bribed Ecclestone into paying him £27 million to avoid the sale coming under scrutiny by the British tax authorities.
Gribkowsky received an eight and a half year jail sentence for his involvement.
The state-owned bank is now seeking compensation, believing the sport was under-valued as a result of the bribery payments, and therefore it lost out when it sold its share.
The 81-year-old is however prepared to fight the claims in court.
"Absolutely," told the Press Association. "I've been blackmailed twice. I don't want it to be a third time.
"But there's nothing to worry about. I'm not worried. I'm aggravated with the nonsense I'm being put through for all this. I sold the shares for the bank. It was something they couldn't sell.
"They had six people look at it and wouldn't buy. I got them out of trouble and now I'm in trouble. Life is like that sometimes."
Ecclestone meanwhile is under threat from German prosecutors who are debating whether to investigate his claims further, which could lead to time in jail, to which he told reporters: "I hope not. I really hope not. I wouldn't complain about German prisons, but I'd rather not be in one anywhere to be honest."