After months of speculation the 2013 German Grand Prix has finally been confirmed on the Formula 1 calendar.
The race has been at the centre of speculation since the calendar was announced with doubts about the Nurburgring’s financial status and their ability to host the race. The circuit was on the brink of administration for much of last year after owing over €300 million to local banks for loans to redevelop the circuit.
With Hockenheim’s future also in doubt, due to local election victories by the environmental party, the threat of no race in Germany was very real with the sport’s commercial rights holder, Bernie Ecclestone, saying on Monday that talks had ended with no solution.
The circuit had said that F1’s financial demands were too extreme and that the charges for hosting the race would leave them in ever worsening financial jeopardy.
Today however Ecclestone announced that:
“I treasure the Nurburgring and its history,” read a statement from Ecclestone. “In view of its long tradition, I was glad to support choosing the Nurburgring as the venue for the Formula 1.”
The announcement now leaves the 2013 calendar with 19 races and the July 21st slot still to be filled. Speculation had linked a return to Turkey, France and Portugal but each have since made it clear that they are not in a position to undertake the financial requirements. One interesting option would be for the Red Bull Ring in Austria to come forward as a potential venue.
It has been speculated that Red Bull would tender an offer for the race to add to other high profile races, such as the DTM, at their track. If an agreement was reached it could lead to an interesting situation where Red Bull, owner of two teams, would be in a position to earn 20% of the revenue raised for race hosting fees which would go a long way to covering the costs for Red Bull to host a Formula 1 race at their ‘ring….