Ecclestone to be cleared of bribery charges post 100 mln-dollar out-of-court settlement

Formula One chief Bernie Ecclestone is reportedly expected to be cleared of bribery charges in Germany after paying an out-of-court settlement of 100 million dollars, which is believed to be the largest in the country's history.

The 100 million dollars would be handed to the state of Bavaria and Ecclestone's lawyer Sven Thomas revealed that he would ask the court on Tuesday to use the money to build a new Formula One track in the region.

Thomas said that it seems that they would be successful in the settlement, and added that the amount is not confidential and they are talking about 100 million dollars, The Independent reported.

A press release about the settlement would be issued on Tuesday and Thomas added that the staggering amount is for the state of Bavaria. He said that maybe they would try and build a circuit and added that he would propose that they should build a nice circuit.

Thomas added that it is a settlement without any conviction, the presumption of innocence is still valid.

Under German law, prosecutors can withdraw charges during criminal trials if all parties agree to the payment of a sum of money to a charity or the treasury, the report added.