Formula One chief Bernie Ecclestone could face bribery charges after being named by prosecutors as having paid a $41 million bribe to a German banker after the sale of Formula One and that he received $41.4m in commissions from a German bank.

Formula One was sold to CVC Capital partners, a private equity firm, in 2006. 

Ecclestone has denied any wrongdoing and told reporters in Germany he will attend the German Grand Prix this weekend, and is not afraid he will be arrested.

He has already given evidence to the prosecutor's office. 

Formula One's billionaire chief executive is now waiting to discover whether he will face charges.