Berlin: German media reports say Formula One boss Bernie Ecclestone has struck a deal for a grand prix as planned at the financially troubled Nuerburgring this summer.
The Rhein-Zeitung newspaper says Ecclestone and Karl-Josef Schmidt, chief of the state-owned Nuerburgring operating company, agreed on a contract on Wednesday.
Bild says government sources in Mainz confirmed the deal, which ensures the July 7 race can go ahead despite the racetrack's insolvency.
Still to be decided was whether it would be called the German Grand Prix or European Grand Prix. A news conference to confirm the details will reportedly take place on Thursday. The Nuerburgring filed for insolvency last July.