Formula 1 supremo Bernie Ecclestone has been formally charged by the German courts following a bribery investigation resulting from a 2006 sale of F1 stakes.

Ecclestone has been accused of paying German banker Gerhard Gribkowsky approximately $44 million (USD) to avoid a tax inquiry after the state-owned BayernLB bank acquired 47 per cent of Formula 1 from Kirch media.

Gribkowsky, a member of the bank, was responsible for the credit acquisition and transfer of the shares to the private equity firm, CVC.

The 82-year-old Briton insists the money was to prevent Gribkowsky from falsely reporting him to British tax authorities for tax evasion, which he says would have been extremely costly. Since the inquiry, Gribkowsky has largely confessed to corruption charges. He was sentenced last year and is currently serving an eight-and-a-half year prison term.

No word yet on when Ecclestone is expected to appear in court.