Bernie Ecclestone discloses F1 backing The F1 boss also refuted any claims of wrongdoing and dismissed the German charges. "I still don't know what the German prosecutors think," Mr Ecclestone said. I wish I was guilty - it would be much easier. The charges are a complete load of rubbish. The investigation by German authorities has also prompted HM Revenue & Customs to examine Mr Ecclestone's tax affairs. The FI boss has denied any irregularities, saying: "I'm British. I pay my taxes and, in the end, the truth will come out. Buyout firm CVC is preparing a stock market flotation of the motor racing business in Singapore that could value F1 at up to $12bn. An initial public offering of the company was delayed last year by the market volatility caused by Europe's debt crisis but it is thought the flotation could still take place within the next 12 months. The impending IPO has sparked speculation about who will succeed Mr Ecclestone, 82, but he has dismissed the rumour that J Sainsbury chief executive Justin King would take his place in the driving seat at F1. Mr Ecclestone said he had had no contact with the FTSE 100 supermarket boss. "I've never met him and there's no way I'm going to," he said. I'll work till I drop and then they can bury me in my bus. Mr King, whose son Jordan is a driver in the F3 racing series, last month denied reports he was quitting the supermarket group and that a headhunter had been contacted to find a successor.