German Grand Prix set for new deal!

It looks like the German Grand Prix race at Hockenheim will stay on the Formula One calendar next season following successful negotiations between promoters and F1's owners, Liberty Media.

There was plenty of people who believed the iconic German track had been raced on for the last time, when Lewis Hamilton won there recently in dramatic style.

Hockenheim and the Nurburgring, two huge German circuits struggled to keep up with the financial constraints leading to much doubt surrounding the future of the two tracks in F1.

Motorsport.com report that the new deal has not yet been signed but it's been agreed in principle during last weekend's race in Belgium - and it's just for the single year.

The new contract means there is a reduced franchise fee on the part of Formula One Management.

But to meet the financial requirements, Hockenheim will need funds brought in from the outside... e.g. sponsorship deals, commercial partners etc.

Mercedes boss Toto Wolff said that his side have been crucial in this deal being struck, with the German being at the negotiation table at all times.

"We have tried to facilitate a comeback, we're involved in the discussions with the various parties, but I haven't got visibility as of today whether the German GP will happen, or whether we'll be involved," Wolff said last weekend in Spa.

"That's something that needs to be decided soon. I'm speaking about the next couple of days."