29/07/2014 11:58 BST | Updated 29/07/2014 11:59 BST

Bernie Ecclestone Offers £20m To End Bribery Trial

Bernie Ecclestone's lawyers and are in talks about a possible £20 million deal to end the Formula One boss' bribery trial, a German court has said.

The 83-year-old went on trial in Munich in April, charged with bribery and incitement to breach of trust.

The charges involve a 44 million US dollars (£26 million) payment to banker Gerhard Gribkowsky, who is serving an eight-and-a-half year sentence for taking the money.

bernie ecclestone

Ecclestone went on trial in Munich in April, charged with bribery

Ecclestone says Gribkowsky blackmailed him.

His defence team called for proceedings to be closed, citing a lack of evidence that Ecclestone was criminally responsible.

They said damage to BayernLB, on whose behalf Gribkowsky was selling a stake in F1, was not evident but offered to pay the bank 25 million euro (£19.8 million), a news agency reported.

The Munich state court says it's unclear how long talks between the two sides will take.

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