Bernie Ecclestone's lawyers say he is willing to pay a £20 million settlement to end his bribery trial.
Having been on trial in Munich since April charged with bribery and incitement to breach of trust, Ecclestone is seeking an early settlement which is possible in certain circumstances under German law if all parties agree. Ecclestone is accused of paying German banker Gerhard Gribkowsky $44m (£26m) to help ensure a stake in F1 was sold to a company he favoured in 2006.
Gribkowsky was sentenced to eight and a half years in prison in 2012 for accepting bribes, and Ecclestone himself could face a lengthy jail term if found guilty.
Ecclestone's lawyers say he is now willing to pay German bank BayernLB to settle the case early. On Tuesday his lawyers called for the case to be dropped due to what they claimed was a lack of evidence, saying the allegations are “highly questionable”.
A statement from the court confirmed talks between prosecutors and the defence "on a potential early end to the proceedings have not yet reached a conclusion".