Bernie Ecclestone has reportedly waived the hosting fee he charges the organisers of the German Grand Prix so the race can go ahead at the financially strained Nurburgring.
The circuit, which is in the hands of a German administrator after its previous owner filed for bankruptcy, takes it in turns with Hockenheim to host the country’s race.
In an effort to ensure the calendar remains at 19 races – one less than last year after the loss of the European GP at Valencia – Ecclestone won’t charge the organisers his usual fee of £13 million ($20m).
That figure is far less than some other races on the calendar which pay as much as £26 million ($40m) per season to host F1.
The circuit’s trustee, Jens Lieser, thanked Ecclestone for his generosity.
“With his commitment to the Nurburgring, Mr Ecclestone has done German F1 fans a big favour,” he said.
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