Mr Ecclestone entered into a "corrupt agreement" with a banker to facilitate the sale of the Formula 1 group to a buyer chosen by him, Mr Justice Newey heard.
A German media company which claims it lost out as a result of the deal is taking legal action against Mr Ecclestone.
Today, a barrister representing the company outlined allegations at the start of a High Court trial in London which is expected to last several weeks.
Mr Ecclestone was not in court. He is expected to dispute the allegations against him.
Philip Marshall QC, for Constantin Medien, said the bargain was struck at a meeting in Mr Ecclestone's London offices.
He said the banker had ''assisted'' Mr Ecclestone to facilitate the sale of the Formula 1 group to a ''purchaser chosen by Mr Ecclestone''.
Mr Marshall said Mr Ecclestone had benefited financially and he said the deal had allowed Mr Ecclestone to retain a ''position with Formula 1 going forward''.
He said there had been a ''real risk'' of Mr Ecclestone's removal from his position in the Formula 1 group.