French Grand Prix to return to Paul Ricard

In an announcement at the Monaco Grand Prix the owners said they had agreed to sell and the circuit is to undergo extensive renovation to bring it up to current Grand Prix standards.

Although there has been no official confirmation of its Grand Prix ambitions F1 boss Bernie Ecclestone made a flying visit to the Mediterranean coast circuit yesterday when the Monaco Grand Prix takes a 24-hour break from on-track action.

It was later announced he would represent the new owners, Societe Excelis.

'It is not going to need to be completely dug up and rebuilt,' said Ecclestone. 'It is still a good circuit. I went there on Friday morning and I was happily surprised with it.'

It is expected to take over the French Grand Prix from 2002 when the dismal Magny Cours track contract ends.

But the event is underwritten by the local tax payers and the French government and the organisers claim it has not made a significant profit for several years so there is a chance it could move sooner.

In an official announcement at Monaco Paul Ricard's current owners, the multi-millionaire Ricard family said that after 30 years of activity the circuit needs reconstruction to maintain the standard required by motor sport in the years to come.

Asked when the circuit, which last hosted a race in 1990, would return to the calendar, Ecclestone said, 'Who knows'.