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| F1 boss Ecclestone has offer to German bank rejected | F1 boss Ecclestone has offer to German bank rejected |
| (35 minutes later) | |
| German bank BayernLB says it has rejected a 25m euros (£20m) settlement from Formula 1 boss Bernie Ecclestone. | German bank BayernLB says it has rejected a 25m euros (£20m) settlement from Formula 1 boss Bernie Ecclestone. |
| The bank claims he collected commissions, and undervalued its stake in the global motor racing business. | The bank claims he collected commissions, and undervalued its stake in the global motor racing business. |
| BayernLB confirmed to the BBC that it had rejected Mr Ecclestone's settlement offer but did not give a reason. | BayernLB confirmed to the BBC that it had rejected Mr Ecclestone's settlement offer but did not give a reason. |
| This week a German court halted a bribery trial against Mr Ecclestone, relating to the 2006 sale of F1 rights, in exchange for a fee of £60m. | This week a German court halted a bribery trial against Mr Ecclestone, relating to the 2006 sale of F1 rights, in exchange for a fee of £60m. |
| Offer expired | Offer expired |
| The 83-year-old billionaire had been accused of funnelling some £26m to jailed BayernLB banker Gerhard Gribkowsky to ensure that a company he favoured could buy a stake in F1. | The 83-year-old billionaire had been accused of funnelling some £26m to jailed BayernLB banker Gerhard Gribkowsky to ensure that a company he favoured could buy a stake in F1. |
| Mr Ecclestone had denied wrongdoing, and his payment was accepted by the district court in Munich. | Mr Ecclestone had denied wrongdoing, and his payment was accepted by the district court in Munich. |
| He walked free and continues running the sport. It also meant Mr Ecclestone was found neither guilty nor innocent. | He walked free and continues running the sport. It also meant Mr Ecclestone was found neither guilty nor innocent. |
| Gribkowsky was sentenced to eight and a half years in prison in 2012 for accepting bribes. | Gribkowsky was sentenced to eight and a half years in prison in 2012 for accepting bribes. |
| Mr Ecclestone's lawyers last week had offered to pay public-sector bank BayernLB 25m euros, but also said that damage to the company was not evident. | |
| The offer expired on Friday with the bank rejecting it, without giving reasons. | The offer expired on Friday with the bank rejecting it, without giving reasons. |
| It has not said what its next move would be. | It has not said what its next move would be. |