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.
More top news
David Cameron will be facing a hostile audience when he meets with leaders from the remaining 27 EU nations this week, writes James Mates.
Baroness Warsi warns reports of hate crimes are rising after a "divisive" EU campaign largely focusing on immigration spurred street abuse.
Labour has descended into crisis as several high-profile members of the shadow cabinet have quit in the past few hours. Here's who they are.