Ecclestone: 'I was a bit of an idiot to settle case'
|6 August 2014 by TF1T Staff | M||Tweet
Bernie Ecclestone says he was a "bit of an idiot" in agreeing to a $100 million (£59m) payment to settle his bribery court case.
The 83-year-old will walk free from the two-year case, but will neither be declared guilty or innocent as he chose to settle the case.
However he says the decision to settle isn't an admittance of guilt as the judge hinted he would be acquitted, instead it was a way of ending the trial, stress and aggravation quickly.
"In the end what has happened is good and bad - the good is the judge more or less said I was acquitted, and [the prosecution] really didn't have a case," he told the Press Association.
"So 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."
He is happy to turn his attentions back to Formula 1 for now.
"The bottom line is it's been three and a half years of aggravation, travelling, meeting lawyers, and God knows what else, so it is good it is out of the way. This trial has been going on for two days a week and it was going to go on until October. When you're trying to run businesses it's not easy trying to resolve things when you're dealing with lawyers."
Of the $100 million, $99m will go to the Bavarian state, whilst the remaining $1m will go charity treating terminally-ill children.