F1 chief Bernie Ecclestone, 83, is on trial in Munich since April due to allegations of bribing a German banker in a deal which was about sale of a major stake in Formula one in 2006.

Now, in that case German prosecutors might agree to accept an offer made by Ecclestone worth $100m (£60m) from Formula 1 to end his trial on bribery charges. A Munich court is expected to take decision on this matter later on Tuesday.

The German court said Ecclestone’s advanced age and other circumstances mean they will accept a settlement deal.

The British national and a billionaire, if charges get proved, may end up in jail up to 10 years and also would have had to relinquish business he has built up over the past four decades which includes F1.

However, under German law, judges, prosecutors and the defence can agree to dismiss a case or settle it with a light punishment, and this is where Ecclestone is hoping for a reprieve.

The allegations were that he paid a German banker 33m euros (£26m) to ensure that a particular company of his favour could buy a stake in F1. Ecclestone on his part, though, denies wrongdoing.