Ecclestone moves to end German lawsuit early
29 July 2014 – Formula 1 supremo Bernie Ecclestone has offered to pay BayernLB £20 million if it drops the bribery case against him, his defence lawyers have said.
According to reports by Bloomberg, Ecclestone is finding the lawsuit "highly burdensome" and wants to bring the matter to a close as swiftly as possible. It is not due to finish until October.
The deal has still to be discussed, although as it is a criminal case it will be up to the judge to decide if the charges are dismissed.
Ecclestone has been on trial in Munich since April.
The case concerns a payment made by the 83-year-old to an employee of German bank BayernLB in the lead up to the sale of Formula 1 to current owners CVC Capital Partners back in 2006.
The employee involved in the alleged $44 million dollar bribe was Gerhard Gribkowsky, who is currently serving an eight and a half year prison sentence after being charged with bribery, breach of trust and tax evasion.
Ecclestone has always protested his innocence and insists he was "shaken down" by Gribkowsky, who had accused him of tax evasion.