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Bernie Ecclestone's bribery trial ends after $100m settlement with prosecutors

Formula 1 supremo’s Bernie Ecclestone's trial for bribery has been closed Tuesday after the Briton agreed to pay a $100m settlement with state prosecutors.

After being accused of paying a bribe to former banker Gerhard Grabowski, the 83-year-old Ecclestone has been on trial in Munich since April.

However, state prosecutors in Germany have agreed to end the trial after Ecclestone offered to pay a settlement worth 100 million dollars.

The state prosecutor told the court that Ecclestone's age supported the acceptance of a settlement.

Had he been found guilty, Ecclestone faced up to 10 years in prison and would have had to surrender control of Formula 1.