Bernie Ecclestone has stepped down from the board of directors which runs Formula 1 until after his trial – but will continue to run the sport on a day-to-day basis.
Ecclestone is set to face trial on bribery charges in Munich in April.
He is alleged to have given a 45 million Euro bribe to German banker Gerhard Gribkowsky in order that Formula 1 would be sold to a private equity group of Ecclestone’s choice.
Ecclestone admits paying the money but insists he was blackmailed by threats to reveal false details of his tax affairs.
German media company Constantin Medien claims it lost out financially when a share belonging to German bank Bayern Landesbank, of which Gribkowsky was a board member, was sold to CVC in 2006.
Gribkowsky was convicted click here for more