F1 mogul and multi-billionaire Bernie Ecclestone has offered the massive sum of £20 million in damages to bring an end to his bribery trial in Germany.
Ecclestone has been accused of corruption by paying Gerhard Gribkowsky £26million in 2006 and 2007 in order to keep his grip on the F1 Empire he built. He could face 10 years in prison if the trial were to continue. The court did not expect such a move from the defence team and is reviewing the offer at the moment.
Ecclestone has pleaded not guilty and insists no bribe was made. Instead he has stated that the money transferred was used to silence a blackmail attempt on him. In 2012, Gribkowsky received an eight-and-a-half year jail term for his role in the alleged deception.
The defence also claimed that the defendant’s age, 83, should be taken into account with the trial being delayed due to alleged health problems faced by Ecclestone. The prosecutors now have until August 8 to either accept the proposal or Ecclestone will continue to fight the charges. German bank BayernLB has been said not to have suffered from the deal, according to the defence.