Bernie may face charges

Prosecutors in the country are gathering evidence against Ecclestone, alleging that he paid a $50 million bribe to former banker Gerhard Gribkowsky as part of the deal.

Eighty-year-old Ecclestone, the sport's commercial supremo and at its forefront for 40 years, protested his innocence to The Times.

"I have done nothing so I have no idea what charges they could bring," he said. "I have done what I had to do at all time during this investigation and I have co-operated fully with the people in Germany.

"As far as I am concerned, there are no problems."

Gribkowsky, 53, was at the centre of the CVC negotiations in November 2005. He has been held in jail since January on suspicion of corruption, tax evasion and fraud.

He is said to have deposited the $50m, now worth £31m, in Austrian accounts in order to avoid paying tax on it. Prosecutors are attempting to link Ecclestone, who gave evidence in Munich in April, to the payment.

CVC employs Ecclestone as chief executive of F1. The company has appeared "relaxed" about the potential charges, according to The Times.

The deadline for filing any charges passed on Tuesday, with prosecutors thought to be in contact with lawyers for both Ecclestone and Gribkowsky.

The sport is gearing up for one of its key events of the season this weekend, the British Grand Prix at a revamped Silverstone.

The Northamptonshire circuit is one of many that has struggled to cope with inflated race fees and facility upgrades demanded by Ecclestone, but the future of the race there is now secured until 2027 after Donington Park's failure to secure the necessary funding to take over the event.

Despite the high cost of hosting a grand prix, cities and circuits are extremely keen to win a place on an already-crowded calendar.

There has been criticism that F1 is a playground for the rich, but it has sought to cut costs in recent times by bringing in a ban on testing and also aligned itself more closely with green issues.