Hockenheim F1 terms "cannot continue"

Hockenheim says the terms of its current deal with Formula 1 "cannot continue" if it is to agree a new contract to continue hosting the German Grand Prix.

Hockenheim F1 terms "cannot continue"
Listen to this article

The circuit is in the last season of a deal agreed with Bernie Ecclestone that originally allowed for it to alternate as Germany's F1 venue with the Nurburgring, which last hosted the race in 2013.

Hockenheim has honoured its side of the agreement, hosting the race in 2014, '16, and this year, with Germany not having a grand prix in 2015 and '17.

However, Hockenheim has made it clear it cannot renew on similar terms as it cannot afford to continue to lose money, and its claims come days after it was revealed the planned Miami F1 race will run under what F1 has called "an atypical business model".

"We're aiming to host a GP in the future, and we'd like to have it in the future, but the key point is we cannot prolong under current conditions," said the venue's marketing director Jorn Teske.

"We would like to have a contract which will take the risk from us, this is the basic point.

"We are not speaking about the fee, we are speaking about a new contract where we definitely have no risk.

"We have a circuit which does not receive any financial support from anybody, neither from the state nor from the region nor from economic companies, so we have to make and manage everything for ourselves.

"We had some losses in the past. We had a 10-year contract, and we fulfilled this contract, even though we had some better and some worse years.

"Now's the time that we cannot continue in the same way. We would be very, very happy to have F1 in Germany, not only for us, but especially for the fans. But we have to change the basics."

Hockenheim has suggested a form of revenue sharing, either with no sanctioning fee, or much reduced one.

Teske said: "We are always talking about fees, and then we were asked 'how much fee would you pay to host the race?'

"This is not our question, because we think we should restructure the business model.

"This could be a track rental [by F1 or a third-party promoter], or it could be a sharing of ticket income, and sharing of costs.

"So this is now a question of the negotiations, how it could end up. But there are many models which could work without risk.

"No fee, or a basic fee, just earning the costs, and then sharing the ticket income.

"We presented our ideas, we presented the figures, very transparent, very clear, in the details, and now they [F1] have to think about it.

"But it's not that easy because it's a financial decision they have to take. Do they take the big money? Then we're out.

"Or do they believe in the importance of the traditional race tracks, and an important automotive country, in Germany?"

shares
comments
Mercedes "bloody worried" for Monaco Grand Prix
Previous article

Mercedes "bloody worried" for Monaco Grand Prix

Next article

The deal that could turn F1 inside out

The deal that could turn F1 inside out
Why is Oscar Piastri F1's most sought-after rookie? Prime

Why is Oscar Piastri F1's most sought-after rookie?

The Australian rising star is fast, consistent, confident, adaptable and has shown excellent racecraft, but there’s already a taint to his reputation. That hasn’t stopped him becoming the hottest property in this year’s F1 driver market and why McLaren moved fast to snap up the 21-year-old

Formula 1
Sep 30, 2022
The unintended benefit that F1's new engine rules era will deliver Prime

The unintended benefit that F1's new engine rules era will deliver

Formula 1's incoming engine rules shake-up has multiple targets. But it may also solve what has been a bone of contention since the hybrids arrived in 2014. The new plan will allow the series to pump up the volume

Formula 1
Sep 29, 2022
How de Vries made himself impossible to ignore for a belated F1 chance Prime

How de Vries made himself impossible to ignore for a belated F1 chance

Nyck de Vries appeared to have missed his opportunity to break into Formula 1 as he was passed over for more exciting talents who have now become frontrunners and title fighters. But after catching the eye outside of the F1 sphere, before his stunning impromptu grand prix debut in Italy, will it lead to a delayed full-time race seat?

Formula 1
Sep 29, 2022
Can Hamilton produce another Singapore magic moment? Prime

Can Hamilton produce another Singapore magic moment?

The Singapore Grand Prix has, explains Ben Edwards, played an important role in Lewis Hamilton’s Formula 1 career. As the series returns to the Marina Bay Street Circuit for the first time in three years, he faces the latest challenge with an underperforming Mercedes car.

Formula 1
Sep 28, 2022
Why Sainz is key to Ferrari achieving its chairman's F1 goals Prime

Why Sainz is key to Ferrari achieving its chairman's F1 goals

Although Ferrari's chances of title glory in 2022 have evaporated, chairman John Elkann expects the team to have chalked up both championships by 2026. Both require drivers to play the team game and, having now become more comfortable with the F1-75, Carlos Sainz may be Ferrari's key to title glory

Formula 1
Sep 27, 2022
How its faltering first turbo car advanced a Williams-Honda glory era Prime

How its faltering first turbo car advanced a Williams-Honda glory era

Stuart Codling charts the development of the Williams FW09, the ugly duckling that heralded the start of the title-winning Williams-Honda partnership

Formula 1
Sep 25, 2022
The Moss-Ferrari farce that current F1 drivers are thankfully spared Prime

The Moss-Ferrari farce that current F1 drivers are thankfully spared

Recent moves within the driver market have reminded Maurce Hamilton of a time when contracts weren’t worth the paper they weren’t written on…

Formula 1
Sep 24, 2022
The seven factors powering Verstappen's 2022 F1 domination Prime

The seven factors powering Verstappen's 2022 F1 domination

After a tooth and nail and, at times, toxic Formula 1 world championship scrap last year, Max Verstappen's march to a second consecutive title has been the exact opposite. But has he really changed in 2022? Here's a dive into what factors have played a crucial role, both inside the Verstappen camp and elsewhere, in the Dutch driver's domination.

Formula 1
Sep 23, 2022