Ecclestone's bribery case closed after $100m payment

Bernie Ecclestone has made the $100m payment he agreed to last week, meaning the bribery case against the Formula One boss is formally closed.

The Munich state court on August 5 approved an agreement between Ecclestone’s lawyers and prosecutors to end the trial.

It gave the 83-year-old Englishman a week to pay the money – $99m of which goes to the state and the remaining one million dollars to a German organisation that helps terminally ill children.

The court said today that the payment was made on time.

Ecclestone faced charges of bribery and incitement to breach of trust over a payment to a German banker in charge of selling a stake in F1 in 2005. Ecclestone denied wrongdoing.