Formula One racing boss set to go on trial for bribery

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By Keith Weir MUNICH (Reuters) - Formula One chief executive Bernie Ecclestone goes on trial for bribery in Germany on Thursday in a case that could see the Briton's long dominance of the motor sport ended by a jail sentence. Prosecutors in Munich have charged Ecclestone, 83, with bribing jailed German banker Gerhard Gribkowsky to smooth the sale eight years ago of a stake in Formula One to private equity firm CVC. Ecclestone, a former used car salesman who became a billionaire by building the sport into a global money spinner over the past four decades, denies wrongdoing and says he will fight to clear his name. CVC remains the largest shareholder in Formula One, a business that generates annual revenues of over $1.5 billion from its series of grand prix races held around the world.

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