Jailed banker tells German court that Ecclestone bribed him


Today in Munich, imprisoned banker Gerhard Gribkowsky told a courtroom that Formula One boss Bernie Ecclestone gave him a $44 million bribe over the sale of a stake in the sport.

Ecclestone is accused of giving that alleged bribe to Gribkowsky in order to help move along the sale of German bank BayernLB’s former F1 stake to CVC Capital Partners almost a decade ago.

Gribkowsky, now the star witness for the prosecution, is serving an eight-and-a-half year jail sentence for accepting the money and for tax evasion.

Ecclestone has admitted to the payments, but has consistently maintained that Gribkowsky was threatening to make false reports about him to tax authorities.

According to Reuters, Gribkowsky – who started giving evidence in the trial last Friday – said through an interpreter that “the offer clearly came from him,” meaning Ecclestone.

He also added, “I had a carrot dangled in front of me. I grabbed the carrot.”

As for the matter of what Ecclestone expected in return for the payment, Gribkowsky said “that remained vague.”

Additionally, the banker admitted to spreading rumors about Ecclestone’s tax status but denied the allegations of blackmail from the British billionaire, who faces not only a possible 10-year jail term but the end of his decades-long reign over F1.

“We didn’t have anything concrete,” Gribkowsky said on those rumors. “It was mainly nuisance value.”

Last November, CVC (which owns a 35 percent stake in the sport) said that it was ready to fire Ecclestone if he is found guilty of any charges against him.

“He told me he had never lied to me and I must say that I had trouble believing you could forget payment of $40 million,” CVC co-founder Donald Mackenzie told the High Court in London at that time.

IndyCar: Schmidt Peterson Motorsports expands mentoring program for tech school students

Photos: Schmidt Peterson Motorsports
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IndyCar team Schmidt Peterson Motorsports announced today that it is extending and widening a unique sponsorship and mentoring program that began last season with students from Lincoln Technical Institute.

The program began last year, with students from several Lincoln Tech branches attending select IndyCar events for an entire weekend.

The students, primarily from auto and diesel training programs, got an insiders experience with the team, taking part in team meetings, watching team workers prepare and service the No. 5 Arrow Electronics Honda of driver James Hinchcliffe, sat on pit boxes during practices, qualifying and, of course races.

The overall experience was to get students more interested and involved in potential careers in the IndyCar field.

“We said at the beginning of last season that we knew our students would benefit and learn from the professionalism and drive of the Schmidt Peterson Motorsports team,” Lincoln Tech President and CEO Scott Shaw said. “But the experience they received working with the entire pit crew team and in particular crew member Cole Jagger – a Lincoln Tech graduate himself – went beyond even our own expectations.

“We were grateful for the time they spent mentoring our students, and we are thrilled to once again be part of the racing legacy of team owners Sam Schmidt and Ric Peterson.”

Lincoln Tech will once again serve as an associate sponsor on Hinchcliffe’s car for the entire 2018 IndyCar season. In addition, it is expanding its Mentor Program to select students to attend a minimum of nine IndyCar races from six last season.

Students are selected based upon their grade point average, attendance, conduct and overall commitment to becoming outstanding automotive technicians. An interest in IndyCar and a desire to work in the industry is also considered.

One student that took part last season, Tyler Crist of Lincoln Tech’s Denver campus, joined the team at the IndyCar race in Long Beach last April, watching as Hinchcliffe won the event.

“It was the best weekend of my life,” Crist said after the event. “It reminded me of why I joined this field in the first place and to never give up on my dreams.”

Jagger will oversee the expanded mentoring program this season. For Jagger, being involved especially hits home, as he is a graduate of Lincoln Tech’s Indianapolis campus.

“I totally enjoyed working with the Lincoln Tech students that participated in the Mentor Program last year and look forward to meeting this year’s group,” Jagger said. “Being a Lincoln Tech grad, I hope the students realize that if you have a passion for cars, a career in racing is something that’s not out of reach. If I can be an example for them to follow, that makes it even more rewarding.”

In addition to the at-track activities of the mentoring program, several Lincoln Tech branches across the country will utilize CNC computerized machining and manufacturing tools to assist in creating car parts for SPM.

“Through this unique partnership, we’re able to hopefully find the next class of talent that could one day be part of our organization,” SPM president Jon Flack said. “We’re looking forward to another year of the mentorship program and having their students be ‘boots on the ground’ gaining real-life experience with our team.”

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