Bernie Ecclestone claims he is an 'idiot' to have paid $100 million to settle bribery case

Bernie Ecclestone at the Italian Grand Prix

Bernie Ecclestone claims he did not really need to make the $100m payment he made to court to end his bribery trial in Munich, but is now happy that the episode is done and dusted.

Ecclestone said the judge had “more or less said” that he was acquited, and that the prosecution “really didn’t have a case”.

The prosecutors accepted the payment on Tuesday morning, as per a German law that allows a settlement of criminal cases as long as all involved parties (including the judge) agree to the same. $99 million of the payment will be collected directly by the state of Germany, while the remaining $1 million will be transferred to a charity for children who are terminally ill.

Ecclestone has said he regrets having to make the payment but is glad that the trial is behind him and that he can return to running his business with complete attention. “I was a bit of an idiot to do what I did to settle because it wasn't with the judge, it was with the prosecutors. Anyway, it's done and finished, so it's all right. I'm content, it's all fine. This now allows me to do what I do best, which is running F1."

Ecclestone’s trial, for charges of bribery and incitement to breach of trust, had been underway since April. The focal point of the case was the $44 million payment that Ecclestone had made to German banker Gerhard Gribkowsky in 2006. The prosecutors alleged that Ecclestone had paid that amount as a bribe to ensure that Formula One was sold to the buyer of his choice.

Video: Bernie Ecclestone's £60m settlement not admission of guilt – lawyer http://t.co/m0oOelSZgB (Photo: Reuters) pic.twitter.com/N0TM8zhpHz

— Guardian sport (@guardian_sport) August 5, 2014