Business World

Monday 20 August 2018

Ecclestone pays $100m to settle bribery case

Formula One Chief Executive Bernie Ecclestone closes his eyes as he arrives back in the courtroom after an adjournment, at the regional court in Munich
Formula One Chief Executive Bernie Ecclestone closes his eyes as he arrives back in the courtroom after an adjournment, at the regional court in Munich

Joern Poltz

A German judge said he would discontinue a bribery trial against Formula One boss Bernie Ecclestone for now, following his offer to make a $100m (€75m) payment.

Judge Peter Noll told the court the suspicion of bribery against Mr Ecclestone was by and large not backed up during the trial. He ordered Mr Ecclestone to pay $100m within a week - €74m to the state and €1m to a children's charity.

Mr Ecclestone (83) went on trial in Munich in April over allegations he paid a €33m bribe to a former German banker to facilitate the sale of a major stake in the motor sport business eight years ago.

A former used car salesman who became a billionaire by building the sport into a global money spinner over the past four decades, Mr Ecclestone has denied any wrongdoing.

The state prosecutor told the court that due to Mr Ecclestone's "advanced age" and "other extenuating circumstances", they supported the proposed settlement.

Irish Independent

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