Six months of trial ends with payout as Ecclestone goes back to work
Embattled F1 supremo Bernie Ecclestone's bribery trial in Munich has ended with a court settlement involving a $100-million payment. The six-month trial potentially threatened to end his F1 reign and jail time if convicted.
The agreement was made last Friday between Ecclestone, his lawyers and state prosecutors, with the presiding judge accepting the deal on Tuesday. If he is able to come up with the money within one week, all of the charges against him will be dropped.
Prosecutors cited 83-year-old Ecclecestone's "advanced age" and "other extenuating circumstances" as the reasons why they agreed to the deal. Judge Peter Noll also agreed to USD 100 million payout, as the trial has not supported "the suspicion in major parts, and more evidence-taking isn't likely to yield other results."
The state of Bavaria in Germany will receive the $99 million while the remaining $1 million will go to a children's charity.
Ecclestone immediately hopped on a plane to fly back to London after the court's decision to go back to work on F1 full-time. The British billionaire is also expected to be reinstated to the F1 board after stepping down due to the legal proceedings.