Magny Cours is reported to be interested in hosting the French Grand Prix when it returns to the F1 schedule, although media reports have suggested that the venue has been quoted a higher price than Paul Ricard if it wanted to reclaim a place on the calendar.

Commercial rights holder Bernie Ecclestone revealed last month that a deal had been struck that would see Paul Ricard host the race, with the agreement set to see the event alternated on the calendar with the Belgian Grand Prix at Spa [See separate story HERE.

That deal however was agreed in principle while Nicolas Sarkozy was still the French president, with recent elections having seen him lose his position to Francois Hollande.

According to RMC, Magny Cours officials have seen the change in president as an opportunity to try and regain the race having contacted Ecclestone 'repeatedly' since the election results - with Hollande believed to be re-evaluating the prospect of the race returning.

RMC however reports that Ecclestone has asked for an additional EUR 10 million for a race at Magny Cours than at Paul Ricard.

Paul Ricard last hosted an F1 race back in 1990, when Alain Prost won for Ferrari.