Hockenheim gets F1 boost

The new deal should secure Hockenheim's F1 future

The German Grand Prix will be held at Hockenheim for another seven years under an extension to the contract between the track's authorities and Bernie Ecclestone's Formula One Holding.

With Moscow set to host a Grand Prix in 2003, the deal appears to secure Hockenheim's place in the Formula One calendar.

The agreement includes an option for a further five years beyond 2008.

As part of the deal, the circuit will undergo a £28m facelift.

Most of the money will be spent on reducing the length of the track from 6.8km to 4.5km to make the event more television-friendly.

The contract will be signed on Sunday, the day of the 75th German Grand Prix.