Formula 1 chief Bernie Ecclestone has revealed that he has been indicted by German prosecutors for allegedly committing bribery.

The 82-year-old has been under investigation following the conviction of a German banker, who took an illegal payment in 2006 thought to be worth around £28.9m within a sale of an F1 stake.

Ecclestone has defended his position in the investigation by telling a court in Munich that he felt pressured into making the payment because he was concerned that he would be reported to the British tax authorities.

He has insisted that he has not committed an illegal act.