Formula One chief pays to settle bribery charges

He's been called the czar of Formula One; the man who built a multi-billion dollar business around car racing.

He is of course Bernie Ecclestone.

And for the past three months he's been on trial in Germany on bribery charges - accused of paying a German banker, Gerhard Gribkowsky, millions of dollars to ensure that a venture capitalist company called CVC bought a stake in his Forumla One business.

If convicted Mr Ecclestone would have faced years in jail.

But now the Munich judge presiding over his case has agreed to drop the charge - in exchange for Mr Ecclestone making a 100 million dollar settlement.

That money will go into the coffers of Gremany's Bavarian state - as well as a children's charitable foundation.

So what does it all mean for the business of Formula One, and Mr Ecclestone's future?

We discuss those issues with Formula 1 journalist Dieter Rencken.