Hockenheim in deep trouble

Kuali Baba SG

From itv.com/f1

Hockenheim mayor Dieter Gummer revealed that the debt-ridden circuit is facing an operating loss of approximately 1.5 million euros for 2006, and called on the regional government to provide assistance.

Im hoping that the state [of Baden-Wurttemberg] will get involved, Gummer told German sports news agency Sport-Informations-Dienst.

Hockenheims accountants have warned that the circuit which spent 65 million euros on a major revamp at the end of 2001 could face insolvency as early as next April unless it consolidates its outstanding debts.

Gummer is hopeful that a debt restructuring will buy time while the circuits management continues to pursue a long-term solution.

I expect that the 2006, 2007 and 2008 grands prix will take place as planned, he said.

Hockenheim is the latest in a growing list of traditional European grand prix venues whose place on the calendar is far from secure. Financial problems have left the Belgian GP, held at the majestic Spa-Francorchamps track, hanging by a thread. And Monza, home of the Italian GP, is fighting for an exemption from new local noise limits that would result in F1 being driven out of its most fabled venue.

Hockenheim has been sh!te since 2002 anyway... Rolling Eyes

Kuali Baba SG

'RING OFFERS TO SHARE GERMAN GP

Organisers of the Nurburgring - the 2006 European Grand Prix venue - have offered to share the German Grand Prix with its financially-troubled rival Hockenheim.

The Nurburgring's general manager Walter Kafitz claims both circuits could bolster their finances by becoming the sole German F1 outlet in alternate years after it became clear earlier this week that Hockenheim is facing an operating loss of 1.5 million euros in 2006.

Germany and Italy are the only two countries to have two races on the Formula 1 calendar.

"That is at least an idea. It has already been welcomed of Bernie Ecclestone," Kafitz told the Bonn newspaper General Anzeiger.

Kafitz's opposite number Georg Seiner told the Mannheim Morning newspaper that he wouldn't rule out the proposal.

"We looking into all the options, but we will not make any rash decisions", said Seiner, who added that any such considerations would have to take into account Hockenheim's contract with the FOM to host the German Grand Prix until 2008.

"It's true that the track is in financial problems," added Kafitz.

"It used to be possible to make a lot of money from hosting Formula 1 races, but these times are now past. We are not attracting the same amount of fans as we were in 2002 when we had 350,000 spectators for a grand prix at the Nürburgring."

Kafitz pointed out that, Ecclestone, who has apparently been consulted over the proposed solution, is keen to expand Formula 1's portfolio of venues.

"He has said before that he wants Formula 1 races in as many countries as possible."

Ecclestone is believed to be considering a second race in North America, while Russia, India, Mexico and Dubai have all stated an interest in hosting grands prix in the future.

SBS9828X SG

did hockenheim appear in calendar last year?

Kuali Baba SG

It did. It was won by Alonso, after Kimi's engine seized while he was leading...Montoya started last but finished 2nd.

iveco SG

Technically, the Imola race is known as the Grand Prix of San Marino.