Aug 5, 2014, 8:45 AM EDT
Bernie Ecclestone’s bribery trial will end, as the head of Formula One has offered up $100 million U.S. for that ending – this has been identified by a district court in Munich, and state prosecutors plan to accept.
Reports last week indicated this was possible for Ecclestone to pay his way out through a legal out clause, explained a bit further below.
This will end the trial that began in April and has gone on throughout the summer. Ecclestone will be found neither guilty or innocent on the charges.
The trial all stems from Ecclestone’s being accused of paying jailed German banker Gerhard Gribkowsky of $44m for the BayernLB bank to keep Ecclestone as an F1 executive and for CVC Capital Partners to take the sale of F1’s commercial rights at an undervalued price. Though the payment was accepted, Ecclestone denied this was a bribe.
But the out clause to allow Ecclestone to pay his way out of this case refers to a provision in German law.
The BBC reported the quote of an experienced lawyer, Franz Bielefeld, to the Spiegelonline news website. Bielefeld explained to that outlet that this proviso, known as Paragraph 153a, was not just applicable to commercial trials, but could be invoked throughout the court system.
Further clarification here via The Guardian, which explained of the “get-out clause:”
“A paragraph in the German criminal code allows for trials to be ended under conditions which are “appropriate for resolving the public interest in a prosecution,” as long as the gravity of wrongdoing does not outweigh this.”
NBC Sports Group F1 pit reporter and insider Will Buxton said the decision is due to the intricacies of the German legal system:
There we go then folks, confirmation from the German Courts. Ecclestone’s proposed settlement of $100m has been accepted. Trial over.
— Will Buxton (@willbuxton) August 5, 2014
The intricacies of the German legal system have facilitated what some will see as an odd conclusion. Don’t hate the player, hate the game.
— Will Buxton (@willbuxton) August 5, 2014
Ecclestone, now 83, will be able to continue running the sport for the foreseeable future; however, he’s not clearly out of the woods. As my MotorSportsTalk colleague Luke Smith notes, a sale of the CVC Capital Partners group is on the horizon.
Mr. E walks free. Now to see what happens with CVC in the next 12 months. Sale on the horizon, what will it mean for him and for F1?
— Luke Smith (@LukeSmithF1) August 5, 2014
Though the trial may now be over, the political intrigue will continue to roll on.
May 28, 2015, 9:45 AM EDT
Andreas Bakkerud will fill in for Piquet while he’s on Formula E duty in Russia.
May 28, 2015, 9:00 AM EDT
Mercedes team boss Toto Wolff took part in a Twitter Q&A earlier this week.
May 28, 2015, 8:30 AM EDT
Two-time series champion looks ahead to a big year in Red Bull GRC with Volkswagen Andretti Rallycross.
May 28, 2015, 8:00 AM EDT
Gossage and Walker are in contact about how to best move forward with super speedway aero kits ahead of June 6 IndyCar race.
May 28, 2015, 7:30 AM EDT
No. 63 driver tops $61,000 raised for Susan G. Komen this month.
May 27, 2015, 4:57 PM EDT
The last seven races held in Detroit have been won by a different driver.
May 27, 2015, 4:17 PM EDT
Penalties doled out after the Indy 500, most notably to the No. 19 and 98 teams for pit incidents.
May 27, 2015, 2:08 PM EDT
Gonzalez returns to No. 18 car after running it in the Grand Prix of Alabama.
May 27, 2015, 1:16 PM EDT
After three straight top-five finishes, Graham Rahal returns to the site of his only 2014 podium.
May 27, 2015, 12:45 PM EDT
Ahead of the Red Bull GRC season, Tanner Foust and Scott Speed look for better luck in the pair of Volkswagen Andretti Rallycross Beetles.
May 27, 2015, 12:28 PM EDT
Charlie Kimball says his team has hit its stride after two straight top-five finishes.
May 27, 2015, 11:28 AM EDT
Hinch heads home.
May 27, 2015, 10:41 AM EDT
Wilson and Andretti continue relationship at FE race in Moscow.
May 27, 2015, 9:23 AM EDT
Racing for Cancer to make trip to this year’s Le Mans, with Derek DeBoer in an Aston Martin Vantage GT4.
May 27, 2015, 8:16 AM EDT
The Red Bull GRC season kicks off in Fort Lauderdale this weekend.
May 27, 2015, 7:44 AM EDT
Fast facts heading into this weekend’s Chevrolet Indy Dual in Detroit, courtesy of IndyCar PR staff.
May 26, 2015, 1:00 PM EDT
Chaves best of two first-year drivers in 99th Indianapolis 500.
May 26, 2015, 10:30 AM EDT
Look out for Nelson Piquet Jr. and SH Rallycross to have a big year in 2015.
May 26, 2015, 9:04 AM EDT
Daly gets confirmed for this weekend’s pair of races in Detroit.
Juan Pablo Montoya earns nearly $2.5 million for Indy 500 win (full box score with winnings attached)
May 26, 2015, 8:00 AM EDT
Team Penske nearly doubles his haul from first Indy 500 win 15 years ago.
- Gossage to Walker: “We needed a more competitive race this year than last year” 0
- Volkswagen Andretti pair of Foust, Speed seek better fortunes, consistency 0
- Hinchcliffe released from hospital, expected to make full recovery (VIDEO) 5
- Fast Facts: Chevrolet Indy Dual in Detroit 0
- Drivers ponder why cars didn’t go airborne during the Indianapolis 500 5
- Bell: “A wild Indy 500 without the finish we desired” 0
- Ryan: Juan Pablo Montoya comes full circle at Indianapolis 1