In an attempt to make amends for the unethical methods by which Martin Bashir gained an interview with Princess Diana, BBC has decided to donate all the profits from the tell-all to a charity chosen by the British royal family.

According to a report in Mail Online, the broadcaster will pay about £1.5 million in "guilt money," representing the revenue which the corporation made from selling the global rights to the explosive Panorama interview, plus reparations. Prince William and Prince Harry, sons of the late Princess of Wales, are likely to be involved in making the decision about selecting the beneficiary of the donation.

Rosa Monckton, a close friend of the late royal, said about the move, "This is an admirable decision, though obviously it cannot undo the damage that has been done or erase the BBC's guilt."

The exact terms of the payment of the money including the date of donation have not been finalised yet. However, it is understood that the payment will be made through BBC Studios, the Corporation's trading arm – a commercial operation that is not funded by the licence fee.

The donation comes months after an independent inquiry by Lord Dyson discovered that Bashir had used "deceitful" methods in securing the interview. This was later covered up by BBC itself, which fell short of "high standards of integrity and transparency which are its hallmark."

After the inquiry, BBC issued a series of apologies to different parties involved, including Prince William, Prince Harry, Prince Charles, and the Princess's brother Earl Spencer whose complaint had sparked the investigation. The network also returned all the awards they or Bashir received for the interview, including a BAFTA (British Academy Film Awards).

Prince William and Prince Harry also released separate statements about the inquiry. The Duke of Cambridge said he welcomes the inquiry, but noted that Bashir told his mother "lurid and false claims" about the British royal family which "played on her fears and fuelled paranoia." The Duke of Sussex also expressed similar sentiments, noting that "the ripple effect of a culture of exploitation and unethical practices" were what "ultimately took her (Diana's) life."

Princess Diana
20 November 1995:The Princess of Wales is interviewed by the BBC's Martin Bashir for the current affairs programme Panorama BBC/Getty Images