Hockenheim seeking 'risk-free' new contract with F1

The German Grand Prix at Hockenheim will only remain on F1's schedule beyond this year if its organisers can secure a "risk-free" deal with the sport's commercial rights holder.

The terms governing its current 10-year contract with Formula 1 were imposed during the Ecclestone era, but the promoters of the event can no longer afford the costly conditions.

Formula 1 CEO Chase Carey may therefore soon need to put his money where his mouth is given his recent reassurances about preserving the sport's historic races, such as the German or British Grands Prix.

"We would like to have it (the race) in the future but the key point is we cannot prolong under current conditions,” Hockenheim's marketing boss Jorn Teske told reporters in Barcrelona.

"We would like to have a contract which will take the risk from us. This is the basic point...we cannot continue in the same way.

"We think we should restructure the business model. This could be track rental, but it could be also sharing of ticket income and sharing of costs."

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With several new races set to potentially appear on the docket, like Miami and Vietnam, it will be interesting to see if Formula 1's managers will be willing to make concessions to the German organisers.

"It’s a financial decision they have to take," added Teske.

"Do they take the big money, let’s say? Then we are out. Or do they believe in the importance of the traditional racetracks and an important automotive country, Germany?

"Now it’s up to them to think about and find a solution together with us."

In a bid to keep his country on the calendar, Teske said Hockenheim would be willing to alternate once again with the Nürburgring as the venue of choice for the German round of the world championship, a rotation often applied in the past.

"We don’t know what they (Nürburgring) have discussed with Liberty but what we know is they have the same objective as we have. They don’t want to lose money," added Teske.

"And they don’t want to take risks as well. One year them, one year us is clever. It’s good."

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