French federation still hoping for 2008 GP

The French race faces an uncertain future after the FFSA said earlier this year that it had suspended the inscription of the race on the 2008 calendar as the conditions of a successful event were not guaranteed.

Formula One supremo Bernie Ecclestone made it clear this year that the unpopular Magny-Cours circuit would host its last race this season.

The FFSA, however, said on Friday that it's still committed to fulfilling its current contract, which expires in 2011, and that it was looking at possible venues to host next year's race.

"The FFSA Executive Committee would like to reaffirm its determination to organise the French Grand Prix until its contract with the FIA Formula One World Championship rights-holding company expires in 2011," said the FFSA in a statement.

"With regard to the 2008 race, its entry will be confirmed on condition that contractual agreements are obtained with the Conseil General de la Nievre and the Conseil Regional de Bourgogne in compliance with these bodies' pledge to increase their support to the Federation in order to permit the event to balance its books.

"Meanwhile, the FFSA Executive Committee has decided to implement a search for sites with a view to durably ensuring the future of the French Grand Prix.

"This approach, which has become necessary in today's context of growing international competition and the rapid evolution in organisational and accommodation standards, will place the accent on innovation, financial viability and a bid to obtain partnerships between the private and public sectors which are indispensable for this type of event."