Hockenheim gets a boost

Thursday 2nd July 2009

Hopes of the Hockenheimring continuing as a Formula One circuit have increased following another meeting between the track's managers and F1 supremo Bernie Ecclestone.

"The situation needs to be sorted out soon," Karl-Josef Schmidt, financial CEO of Hockenheim-Ring GmbH, the company that runs the circuit, told the German Press Agency dpa.

Schmidt added that he believes a decision on the circuit's future could be reached by the end of the month, in order to give enough to prepare for the 2010 German Grand Prix at the venue.

"There is a noticeable will on the part of Mr Ecclestone to keep Formula One at the Hockenheimring," said Schmidt.

The regional council where the city of Hockenheim is situated and which owns 94 per cent of the Hockenheim Circuit company announced last week that it was withdrawing its support for the track.

Last year's race registered a loss of 5.3 million euros (7.2 million dollars) and the proposed 2010 race at Hockenheim is expected to have a deficit of around 6 million euros.

Schmidt described the move by the council to end its dealings with the loss-making track as "counterproductive."

This year's German GP takes place at the Nuerburgring on July 12.

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