Thursday, 01 Oct 2009 10:19
Hockenheim’s future has been secured until 2018 By Adam Leveridge.
Hockenheim has put a financial package in place that will secure the future of the German grand prix until 2018.
The circuit’s place on the formula one calendar was jeopardised when it’s bosses flinched at the six million Euros cost of running the event next season.
But, following discussions with Formula One Administration, a deal has been put in place where the both FOA and circuit management will share the costs of hosting the event for the foreseeable future.
In a statement, Hockenheim said : "The new contract not only ensures the continuation of the now nearly four-decade long tradition of F1 at Hockenheim for another decade, but also includes a financial agreement where the FOA and the Hockenheim Ring Gmbh, agree to co-operation on the business opportunities and risks of the event."
Next year’s German grand prix is currently scheduled for July 25th.