The German Grand Prix will go ahead as planned at the Nurburgring this season, following successful negotiations between the promoters and Bernie Ecclestone.
The agreement brings to an end months of speculation and uncertainty as to where the German race would be held following the financial collapse of the company behind the facility.
Thomas Schmidt, managing director of Nurburgring GmbH, welcomed the decision.
“I thank Mr. Ecclestone very much and I am delighted that he has decided in favour of the Nurburgring,” he said in a statement.
“With his commitment to the legendary circuit, he makes a significant and valuable contribution to the Nürburgring.”
Ecclestone, who initially refused an offer last week calling it “unfeasible”, says he is “pleased” to have a contract in place for 2013 and beyond – though full details of the deal haven’t been specified.
“I appreciate the Nurburgring and its history very much,” he said. “Even today, this Grand Prix circuit makes the highest demands on drivers and teams.
“I was very pleased to advocate the hosting of the F1 race at the Nurburgring in order to sustain this traditional race track.”
The race will take place on July 7th.
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