Hockenheim secures its future in Formula 1
Hockenheim has just implemented an agreement to secure the future of the German Grand Prix until 2018. The circuit’s place within the Formula 1 calendar had been called into question due to the cost of the event. Indeed, next year the budget is estimated at six million euros. However, thanks to discussions with the Formula […]
Hockenheim has just implemented an agreement to secure the future of the German Grand Prix until 2018. The circuit’s place within the Formula 1 calendar had been called into question due to the cost of the event. Indeed, next year the budget is estimated at six million euros.
However, thanks to discussions with the Formula One Administration (FOA), a financial agreement has been reached where both parties agree to share the responsibilities of the event.
The circuit directors stated in a press release: « The new contract not only guarantees the presence of the track in the sport for an additional decade but also includes a financial agreement if the FOA and Hockenheim Ring GmbH company agree on a collaboration concerning the commercial opportunities and risks of the event. »
The Hockenheim and Nürburgring circuits have implemented an alternating system for organizing the German Grand Prix to save costs. Next year, the race will take place in Hockenheim on July 25th.
