Bernie Ecclestone has offered to pay £60million to end his trial on bribery charges.
Arriving in a Munich court on Tuesday morning, Bernie, 83, made the offer to avoid spending ten years in jail if found guilty.
Bernie was accompanied by his 36-year-old wife Fabiana Flosi, who showed her support by speaking in court during the trial.
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Bernie Ecclestone went on trial in April for bribery charges involving a German banker
The Formula 1 magnate had first gone on trial in April when he was charged with bribery and incitement to breach of trust.
Bernie was accused of paying German banker and BayernLB employee, Gerhard Gribkowsky, £26million to ensure that a company he favoured would buy a stake in his racing empire.
He denied any wrongdoing, while Gerhard was sentenced to eight and a half years in prison for accepting bribes.
Bernie Ecclestone's wife Fabiana Flosi spoke in court
During the trial on Tuesday, prosecutors said they would accept Bernie's offer of £60million due to the tycoon's advanced age and other circumstances. The Munich state court is expected to agree to the settlement later in the day.
According to The Independent, Bernie's party is encouraging the court to spend the money on a new F1 track in the region.
Bernie was recently seen enjoying a family day out with his daughter Tamara Ecclestone and her husband Jay Rutland at the Monaco Grand Prix in May.
Tamara and Jay had brought along their baby daughter Sophia to the race course, who the couple welcomed in March.