Wednesday 30 September at 18:01 : Sep.30 (GMM) Formula One Administration (FOA), the company led by Bernie Ecclestone, has taken on some of the "business risks" of promoting future German grands prix at Hockenheim.

It was announced on Wednesday that, after recording annual multi million euro losses in recent races, the circuit's future on the F1 calendar has been secured.

Until 2018, Hockenheim will share the German GP in an alternating scheme with the Nurburgring.

It had been believed that only the regional government was contributing to the solution, but the race organisers confirmed in a statement that FOA has agreed with Hockenheim to share the "business risks and opportunities" of hosting the race.

In a news conference, Hockenheim mayor Dieter Gummer did not want to give any more away, but he confirmed that the city no longer has to worry about a projected 6 million euro loss for the 2010 event.