South Africa enters F1 race

Button made a promotional trip to South Africa this year

South Africa is aiming to win back a place on the Formula One calendar for the first time since 1993.

A consortium of businessmen said it hoped to host the race on a new track that would be built on a site near Cape Town, with a race planned for 2007.

David Gant of Parallel Media South Africa said F1 officials had already approved the site near Cape Town's international airport.

The country's last Grand Prix was held at Kyalami near Johannesburg.

Gant said in a statement: " "Preliminary discussions have been held with potential stakeholders including major South African and international companies.

"There is clearly a lot of interest, but the private sector wants to see Government buy in."

F1 boss Bernie Ecclestone had welcomed South African interest in hosting races, the consortium said, pointing out that drivers Michael Schumacher and Jenson Button had visited South Africa in recent months.

Gant said the consortium met with former Sports Minister Ngconde Balfour in March to discuss government participation in the bid.

"Following the initial indications of support from Minister Balfour and meetings with the Department of Sport, the matter has now been referred to the Minister of Trade and Industry. We have made submissions to him and await a response," he said.