The long-term future of the German Grand Prix seems to have finally been secured, after the announcement of a deal that will see Hockenheim keep it's place in the current event-sharing agreement with the Nurburgring through until 2018.
The future of the German GP had been looking in doubt after Hockenheim organisers said that they would be unable to host the 2010 race due to losses made the last time they hosted the event in 2008.
A number of proposals had been put forward to try and keep the race alive.
Though the Nurburgring, who share hosting duties with Hockenheim and hosted this season's German race, said that it would be unable to step in to the gap Hockenheim would leave, an offer for the Belgian and German races to share a slot on the calendar was discussed.
But thankfully, the whole situation seems to have resolved itself, with Formula One Administration and Hockenheim circuit bosses agreeing a new deal to help cover any losses made by the event in future.
The track had originally attempted to secure funding from the local government in order to cover their expected financial crippling over the race.
Through a statement on the Hockenheim website, the track owners said that: "The FOA and the Hockenheim-Ring GmbH will share in the entrepreneurial opportunities and risks of the event."
Promoters of Hockenheim's 2010 event have said that the event could post losses of up to 6 million Euros.
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