F1 CEO Bernie Ecclestone "is reportedly offering $100M to settle the bribery case against him," according to Klaus Ott of SÜDDEUTSCHE ZEITUNG. Ecclestone, accompanied by his lawyers, "negotiated this deal in person with the prosecution on Friday." Neither the defense nor prosecution "commented on the reported deal." Prosecutors have reportedly asked for a payment of €100M ($134M), which "was too much for Ecclestone." The prosecution and Ecclestone "reached a compromise and simply changed the euro symbol into a dollar symbol." Should the court approve this settlement, Ecclestone "would not be sentenced and most likely would stay on as F1 CEO." It is expected that the Munich court "will agree to the deal" (SZ, 8/1). The AFP reported the settlement has been welcomed by Mercedes F1 team Non-Exec President Niki Lauda. The former F1 world champion said that it would be a "disaster" if Ecclestone were to lose control. He said, "He is the only one who knows everything -- the business, teams' problems. He has everything in his head. He is the link between the teams and the investors" (AFP, 8/3). The PA's Ian Parkes reported with the trial running for just more than three months, on Tuesday it "was halted" after Ecclestone, 83, "reportedly offered to pay a substantial sum of money" to BayernLB in return for the charges being dropped. Under Bavarian state law, a trial of the nature of Ecclestone’s "can be concluded if the accused makes a payment to a non-profit making organisation, or the treasury." Such an offer "does not imply any guilt on behalf of the accused" (PA, 8/2).
