Jul 1, 2009, 16:00 GMT
Hockenheimring, Germany - Hopes of the Hockenheimring continuing as a Formula One circuit have increased following another meeting between the track's managers and F1 supremo Bernie Ecclestone.
'The situation needs to be sorted out soon,' Karl-Josef Schmidt, financial CEO of Hockenheim-Ring GmbH, the company that runs the circuit, told the German Press Agency dpa Wednesday.
Schmidt added that he believes a decision on the circuit's future could be reached by the end of the month, in order to give enough to prepare for the 2010 German Grand Prix at the venue.
'There is a noticeable will on the part of Mr Ecclestone to keep Formula One at the Hockenheimring,' said Schmidt.
Ecclestone will now meet Baden-Wuerttemberg state premier Guenther Oettinger when the pair attend the German GP at the Nuerburgring on July 12.
The state has previously indicated it might be prepared to provide financial backing to help ensure the circuit's Formula One future.
The regional council where the city of Hockenheim is situated and which owns 94 per cent of the Hockenheim Circuit company announced last week that it was withdrawing its support for the track.
Last year's race registered a loss of 5.3 million euros (7.2 million dollars) and the proposed 2010 race at Hockenheim is expected to have a deficit of around 6 million euros.
Schmidt described the move by the council to end its dealings with the loss-making track as 'counterproductive.'
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