Lawyers of the Formula 1 chief Bernie Ecclestone said that the F1 boss was ready to pay 25 million euros to a German bank to resolve the bribery case against him.
Ecclestone had been charged with incitement to breach of trust and bribery and went on trial in Munich in April, reports the BBC.
There were allegations against Ecclestone that he had paid 22 million euros to a German banker to ensure a company could buy a stake in F1.
The F1 chief, if found guilty, would be faced with a 10-year jail term and it would mark an end to his dominance over motor racing.
The defence team of Ecclestone urged for the proceedings to be stopped on Tuesday because of lack of evidence.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app