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German court orders Ecclestone to pay settlement in one week to end bribery trial

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German court orders Ecclestone to pay settlement in one week to end bribery trial

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An offer of 75 million euros by Formula One boss Bernie Ecclestone to end his trial on bribery charges has been accepted by a German court.

The state prosecutors in Munich had earlier said they would accept the offer on account of his old age and other circumstances.

Judge Peter Noll gave Ecclestone one week to pay the money.

German law permits judges, prosecutors and the defence to agree to either dismiss a case or settle it with a light punishment. However, terms for this are strictly defined.

Eighty-three-old Ecclestone preserves his innocence and avoids a lengthy court battle.

He went on trial in Munich in April over allegations he bribed a former German banker as part of the sale of a major stake in Formula One eight years ago.

The British billionaire could have faced up to ten years in prison.