German newspaper Suddeutsche Zeitung reported on Saturday that attorneys for F1 commercial chief Bernie Ecclestone have negotiated a $100 million settlement with prosecutors in his bribery trial in Munich. Citing confidential sources, the the newpaper said the settlement will result in all charges being dropped against the 83-year-old Ecclestone, and would clear the way for him to retain control over F1’s commercial interests.
The latest German report ups the ante considerably from the report earlier in the week of a $33 million settlement to the case.
“There have been additional talks involving state prosecutors, defense lawyers and the court, and it’s possible that a settlement to end the case could be reached next week,” Suddeutsche Zeitung quotes a court spokesman as saying.
The German paper’s report claims that prosecutors had initially demanded a settlement amount of 100 million euros ($134m), but Ecclestone and his lawyers had negotiated the amount down to the same figure in U.S. dollars.
If the settlement is concluded as described, it would be the largest financial settlement in German legal history.
