Although he has a good track record in libel cases and has been awarded some hefty settlements,
Sir Elton, who won a front-page apology and an estimated £1 million in libel damages from The Sun in 1987, took exception to a spoof diary item the Guardian published concerning his annual White Tie and Tiara Ball.
Elton claimed the paper accused him of racism and he sued for £150,000 in damages, but the judge at the first High Court hearing suggested that no sensible person would have regarded the piece as anything other than satire.
However, that didn’t satisfy the international star and he sought leave to appeal.
When that was denied, his solicitors reportedly called the Guardian and said Sir Elton was withdrawing and had agreed to pay the paper’s legal costs.