Formula 1

Bernie Ecclestone bribery case ends with £60m payment

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Bernie Ecclestone has payed a Munich court £60 million to end his bribery trial, the BBC have reported.

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Bribery trial

Ecclestone went on trial in a Munich court in April accused of bribing a German banker. The 83-year-old, it was claimed, paid £26 million so that a company he favoured could buy a stake in Formula 1. 

If Ecclestone had been found guilty, he could have ben in prison for 10 years which would have ended his powerful reign in the motor racing world.

The result means that he is not found guilt or innocent, with this payoff a clause in German law.

Meanwhile, the German banker, Gerhard Gribkowsky, who works for BayernLB, was found guilty of accepting bribes in 2012 and was sentenced to eight and half years in prison.

Ecclestone claimed that the BayernLB banker threatened to make false claims to do with the head of F1's taxes.

Ecclestone has now payed the Munich court $100 million, of which $99 million will go to Munich and $1 million will be given to a children's hospital.

The German law

Within German law it states that any defendant may be able to "buy" the ending of a trial in certain circumstances. The law is in place to end cases in which it might be very hard to reach a verdict.

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