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F1’s Ecclestone Won’t Quit on Gribkowsky Verdict, Focus Reports

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June 30 (Bloomberg) -- Formula One Chief Executive Officer Bernie Ecclestone doesn’t plan to step down after former BayernLB Chief Risk Officer Gerhard Gribkowsky was convicted for accepting bribes on the sale of the lender’s stake in the racing company, Focus reported, citing an interview.

Ecclestone said he paid Gribkowsky 10 million pounds ($15.7 million) to stop him threatening to provide information to U.K. tax authorities, Focus cites the CEO as saying.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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