Hockenheim is to remain a part of the F1 calendar until at least the 2018 season after announcing that a deal has been done to secure its slot on the schedule.
Hockenheim currently shares the German Grand Prix with the Nurburgring, but question marks were raised about the ongoing future of the circuit in the sport due to a predicted £5.5million loss next year.
Circuit promoters have suggested that the race could be run at a loss of some 6 million Euros next season but a deal between circuit chiefs and Formula One Administration has now been reached which will cover any financial risks there may be.
“The new contract ensures the continuation of F1 at Hockenheim,” a statement from the circuit read, “but also includes an agreement where the FOA and the Hockenheim-Ring GmbH will share participation in the entrepreneurial opportunities and riskes of the event.”
Hockenheim first figured on the F1 calendar back in 1970 and hosted the German GP from 1977 to 2006 – aside from one season in 1985.
Since 2007, it has shared hosting of the event with the Nurburgring, with the race being run at the different circuits on alternate years.