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Ecclestone has to pay £60m bribery trial settlement

Formula One boss Bernie Ecclestone has to pay $100 million (£60m) as a settlement payment in his bribery trial, a Munich district court said.

A spokesman for the court said the suspicion against the 83-year-old was largely not substantiated.

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Ecclestone lawyer: Paying £60m in a week 'do-able'

Bernie Ecclestone's defence lawyer has said it is "do-able" for the Formula 1 tycoon to pay out £60m within a week.

A district court in Munich said Mr Ecclestone, 83, had offered to pay the cash to end a trial for bribery.

The state prosecutor told the court that Mr Ecclestone's age and other circumstances meant they would support the offered settlement.

Bernie Ecclestone arrives at the district court in Munich. Credit: Sven Hoppe/DPA/Press Association Images

The billionaire could face up to 10 years in jail and have to give up control of his business if he is found guilty.

A spokeswoman for the Munich court pointed out that under German law settling the case with a payout did not amount to an admission of guilt.

"With this type of ending a procedure there is no ruling on guilt or innocence of the defendant," she said.

"He is neither acquitted nor judged, rather this is a special type of ending a procedure which is in theory available to all types of cases."

F1 boss Ecclestone offers £60m payment to end trial

Formula One boss Bernie Ecclestone has offered to make a $100 million (£60m) payment in order to end a trial on bribery charges, a court in Germany heard.

Formula One boss Bernie Ecclestone. Credit: BREUEL-BILD/LSP-BorisKorpak/DPA

State prosecutors in Munich said they would agree to accept the offer, according to Reuters.

The 83-year-old went on trial in April over allegations he bribed a former German banker as part of the sale of a major stake in the motorsport business eight years ago.

Ecclestone's age and other circumstances supported the acceptance of a settlement, the state prosecutor said.

The British billionaire could have faced up to 10 years in jail and would have had to cede control of a business he has built up over the past four decades.

Ecclestone expects Formula 1 engine rule change

Formula One CEO Bernie Ecclestone has said he expects to get an agreement to change the sport's "unacceptable" engine rules.

The muted sound of the new 1.6 liter V6 turbo hybrid engines has also attracted criticism.

Formula One motor sport boss Bernie Ecclestone

The sport's new fuel limits restrict usage to 100 kilograms per car per race, with the flow never exceeding more than 100 kilograms per hour.

"They can do something about the noise, and they need another 10 kilos of fuel or something," Ecclestone said Sunday ahead of the Bahrain Grand Prix. "Everybody will agree to that."

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Ecclestone vows to address worries over F1 noise

Formula One boss Bernie Ecclestone has pledged to address concerns surrounding the sport's lack of an appealing noise.

Following Sunday's Australian Grand Prix, Ron Walker, chairman of the organising company that stages the race, complained to close friend Ecclestone about the lack of sound.

Formula One boss Bernie Ecclestone. Credit: Press Association

The scream of the old V8 engine has gone, and in its place there is now a huskier tone from the 1.6-litre V6 turbo, as F1 tries to become greener.

Walker claimed Ecclestone was "horrified" by what he had heard on Sunday, to which the 83-year-old said: "I was not horrified by the noise, I was horrified by the lack of it."And I was sorry to be proved right with what I've said all along - these cars don't sound like racing cars.

"I've been speaking with Jean (Todt, president of the FIA) and what I've said is we need to see whether there is some way of making them sound like racing cars."I don't know whether it's possible, but we should investigate."

Speaking to The Daily Telegraph, Ecclestone added: "I think let's get the first few races out of the way and then maybe look to do something. We can't wait all season. It could be too late by then."

Ecclestone wins court battle with German media firm

Bernie Ecclestone, 83, is thought to be worth nearly £2.3bn. Credit: PA

Formula 1 boss Bernie Ecclestone has won a multimillion-pound High Court fight with a German media company today.

A High Court judge ruled on the dispute between Mr Ecclestone, 83, and Constantin Medien at a hearing in London.

Mr Ecclestone was accused of entering into a "corrupt agreement" with a banker to facilitate the sale of the Formula 1 Group to a buyer chosen by him.

The judge said the payments made were a "bribe" but Constantin's claim still failed because it had been "no part" of Mr Ecclestone's purpose for shares to be sold at an "undervalue".

Mr Ecclestone was not at today's hearing.

F1 boss Ecclestone to face bribery charges in Germany

Ecclestone, 83, is accused of making bribes when he sold part of the motor racing sport Credit: PA

Formula One boss Bernie Ecclestone will stand trial on bribery charges in Munich, according to a statement from a German court.

"Under current planning, the main trial should start in late April," the Munich court said in a statement on Thursday.

Ecclestone, 82, was charged in July with bribing a German banker to smooth the sale of a stake in the motor racing business to private equity firm CVC eight years ago. Ecclestone has denied wrongdoing and said he will fight to clear his name.

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