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Heads of the Nürburgring are confident that the venue can retain its F1 race next year. With the facility having been declared bankrupt, it looked likely that Hockenheim would remain the sole host of the German Grand Prix, but the Nürburgring continues to deal with the matter and has now secured a loan from the local state government.
The credit is estimated to be in the region of 330 million euros (£260m), with state government Rhineland-Palatinate already owning approximately 90 percent of the Nürburgring’s holding company. It has now agreed to release 254 million euros (£200m) worth of funds in order to contribute to a portion of the loan.
Since 2007, the two German tracks have been alternating by mutual agreement on the basis of cost-cutting. After Bernie Ecclestone notified the press of the general 2013 calendar, the CEO of the Formula One Group indicated that the Nürburgring would not be returning. Not giving in, officials at the track will be staging talks with the Englishman across August.
“After months of wrangling, the contracts for the Formula 1, 24-hour race and the Truck Grand Prix are at last completed,” circuit chief Jörg Lindner explained in a statement that was released in German. “The contact with Bernie Ecclestone was never lost and over the summer break we shall endeavour to negotiate the final deal for 2013.
“I am very optimistic that Formula 1 will be back at the Nürburgring again next year.”
Taking over from the Nordschleife which so nearly claimed the life of Niki Lauda in 1976, the new-look Nürburgring first hosted an F1 race – won by Alain Prost – in 1984.
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