JANUARY 20, 2006
Hockenheim moves to calm worries
The authorities at Hockenheim have announced that this year's racing programme will go ahead as planned, a move which is intended to calm fears that races could be cancelled because of the track's financial problems. This has apparently led to fears that people will not buy tickets in advance of events, which in turn could have serious financial implications. The circuit is reported to owe $35m and needs more to pay the fees for the German Grand Prix. The Hockenheim mayor Dieter Gummer is due to meet with Bernie Ecclestone soon to discuss the problems. The Baden-Wurttemberg regional authorities are facing the need to borrow more money and have gone to the state-owned L-Bank for an additional loan of $5.5m.
Elsewhere, the French Grand Prix is trying to drum up more business and this weekend will have a stand at the Vive La France exhibition at London's Olympia, a show designed to attract the British to France. With the French GP now taking place on July 16 the organisers hope to catch British fans on their way south for their summer holidays. The increasing fees for the races means that France is worried that this year the books will not balance.
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