Formula One’s German Grand Prix will go ahead as planned on July 7 after the Nuerburgring racetrack’s management company reached a commercial agreement with series CEO Bernie Ecclestone.
Nuerburgring Betriebsgesellschaft mbH declined to disclose the terms of the agreement in an e-mailed statement.
There was a risk that the German Grand Prix, a fixture on the Formula One calendar for half a century, could have dropped off the schedule, the British Broadcasting Corp. reported yesterday.
The Nuerburgring alternates holding Germany’s annual Formula One race with a circuit at Hockenheim. Both racetracks have had financial difficulties since 2008, and have turned to local authorities for assistance.
“I appreciate the Nuerburgring and its history very much,” Ecclestone was quoted as saying in the statement. “Even today, this grand prix circuit poses the highest demands on drivers and teams.”