Formula One supremo Bernie Ecclestone went on trial in Germany on Thursday, denying charges of bribery that threaten to land the British billionaire in jail.

Ecclestone, 83, is accused of paying a German banker tens of millions of dollars to ensure his continued grip on the motor sporting empire he built up virtually single-handedly over four decades.

His lawyer Sven Thomas dismissed the allegations as "inaccurate, misleading and unsubstantiated," saying "the alleged bribery did not take place."