Hockenheim calls for government help

Hockenheim has called on the German government to step in and provide a bail-out to help secure the future of Formula One at the venue

Hockenheim calls for government help

The German track is not due to hold its nation's next event until 2010, thanks to a race-sharing deal it has with the Nurburgring.

But with projected six million Euro losses for the race, and the local Baden-Wuerttemberg state saying it will no longer provide financial support, Hockenheim has warned that it may choose to not bring F1 back.

Local government representatives met with interested parties in Stuttgart on Thursday to try and thrash through a deal that would help, with further meetings scheduled for the start of this week. A decision on the race's future will be made in March.

But Karl- Josef Schmidt, CEO of the Hockenheimring GmbH company that runs the circuit, told the German press agency DPA, that the circuit may need help from national government if it was to keep hold of the race.

"The Formula One race is a mega-event, something like a football World Cup. The federal government could do something for it," said Schmidt.

"We have a deadline until the end of March 2009, the financial package has to be in place by then or else there won't be any more Formula One at the Hockenheimring."

Schmidt said he was optimistic that the Stuttgart meetings had provided some good news about the future.

"All those present have a great interest in keeping the race," he said.

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