Formula One supremo Bernie Ecclestone has dismissed suggestions the sport needs to engage with a younger audience and develop a greater awareness of social media.
Ecclestone and F1 have often been criticised for a lack of activity on Twitter, Facebook et al, which in turn could help attract a new fanbase.
Although television global audience figures remain high at around 350million per grand prix weekend, that has dropped from 500million in recent years.
The £60 million settlement in Bernie Ecclestone's bribery trial may seem a lot of money, but it leaves the road clear for one of sport's biggest operators to carry on exerting control over the world of Formula 1.
ITV News Sports Editor Steve Scott reports:
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.
The bribery trial against Formula One boss Bernie Ecclestone will be discontinued for the moment, a Munich district court said.
The announcement comes after the 83-year-old offered to pay a £60 million settlement to end the trial.
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.
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."
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.
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.
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.
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."
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.
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."
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.
Bernie Ecclestone has stepped down from the Formula 1 board of directors, but will continue to run the sport, according to Associated Press reports.