2006 German Grand Prix is safe

Financial problems at the Hockenheim circuit had cast a doubt over this year's race, but a meeting in Stuttgart with government officials, banks and track representatives has at least guaranteed the 2006 event.

Mercedes-Benz motorsport boss Norbert Haug was also involved in the meeting.

Gunther Oettinger, Prime Minister of Baden-Wurttemberg, told German media: "We have a good chance that insolvency is avoided at Hockenheim."

The Minister of economics, Ernst Pfister, added: "Hockenheim will organize the race (in 2006)."

But although the 2006 event looks set to have been saved, the long-term future of Hockenheim is far from secure.

Officials have said they want to carve out a new deal with F1 supremo Bernie Ecclestone to cut back on the annual increase in race fee, which is believed to go up by 10 percent each year.

The financial problems have been caused by the debts that were accrued when the circuit was modernised in 2001.

If a reduction of race fees is not possible, then there is a chance of the race alternating on the calendar with the Nurburgring from 2007. Hockenheim's current deal runs until 2008, while the Nurburgring has a contract to host the European GP until 2009.