F1 agrees on Nuerburgring for German GP

January 30, 2013, 9:20 PM

THE ASSOCIATED PRESS

BERLIN — German media reports say Formula One boss Bernie Ecclestone has struck a deal for a grand prix as planned at the financially troubled Nuerburgring this summer.

The Rhein-Zeitung newspaper says Ecclestone and Karl-Josef Schmidt, chief of the state-owned Nuerburgring operating company, agreed on a contract on Wednesday.

Bild says government sources in Mainz confirmed the deal, which ensures the July 7 race can go ahead despite the racetrack’s insolvency.

Still to be decided was whether it would be called the German Grand Prix or European Grand Prix.

A news conference to confirm the details will reportedly take place on Thursday.

The Nuerburgring filed for insolvency last July.

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