Bernie Ecclestone on Saturday said he will try his best to keep Formula One at the Nurburgring.
The new state coalition government has said it will no longer support the German event, with circuit chief Karl Josef Schmidt admitting contract talks for the next race in 2013 have begun this weekend.
"I am very optimistic that Formula One will continue as always at the Nurburgring," F1 chief executive Ecclestone is quoted by the Rhein-Zeitung newspaper.
"I will try my best so that we can stay here," added the Briton at the track on qualifying day.
It has been reported that the circuit operators are seeking a big discount, similar to the one Schmidt successfully negotiated for Hockenheim some time ago.
I am sure we will think of something. Of course I am open to negotiations
Ecclestone said: "How can I give a discount if there is no agreement? No one has come to talk to me from the government.
"But I am sure we will think of something. Of course I am open to negotiations."
It is believed Ecclestone is convinced Germany is a key market for F1, with Hockenheim not financially able to host a race every single year.
"I have been coming here for about 1000 years and have invested personally a lot in this race," he said.