Nurburgring likely to stage 2013 GP
Formula One racing at the Nurburgring had been in doubt
The short-term future of the Nurburgring and next year's German Grand Prix appears to be secure.
Just over a fortnight ago it was revealed the circuit faced the threat of insolvency, with track operators Nurburgring GmbH in debt to the tune of £235million following redevelopment in 2009. The state government of Rheinland-Palatinate, who own 90% of the track's holding company, have now stepped in to bail them out.
It has been agreed £200million worth of funds is to be released to guarantee the £259million loan that was initially required for the redevelopment.
It should be enough for the Nurburgring to stage the 2013 German Grand Prix, a race alternated on an annual basis with Hockenheim.
Speaking to Frankfurter Allgemeine Zeitung newspaper, track boss Jorg Linder said: "I am very optimistic that Formula One will be going to the Nurburgring next year."