Prosecutors in Munich are expected to decide in the coming weeks whether to charge Formula One Group Chief Executive Bernie Ecclestone with bribery, The Wall Street Journal reported.

The decision, which has been anticipated for months, relates to $44 million Ecclestone paid to a banker in 2006-07. The banker, Gerhard Gribkowsky, who was the chief risk officer of German lender BayernLB, was sentenced in June to more than eight years in prison for taking the money.

An...