23 July 2011 Last updated at 12:54

Bernie Ecclestone unconcerned by bribary allegations

Formula 1 boss Bernie Ecclestone says he is "not concerned" by allegations made against him by Munich's state prosecutor who has decided to bring charges against German banker Gerhard Gribkowsky in relation to the sale of F1 to CVC Capital Partners in 2005.

CVC is not accused of any wrongdoing but the prosecutor is formally investigating Mr Ecclestone over payments of $40 million to Gribkowsky.

On Friday Mr Ecclestone admitted to the Daliy Telegraph that he made the payment but denies it was a bribe.

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