The administration of the local Rhine-Neckar region in southwestern Germany has stepped up to safeguard next year's running of the German grand prix at Hockenheim.

The administration of the local Rhine-Neckar region in southwestern Germany has stepped up to safeguard next year's running of the German grand prix at Hockenheim.

The Financial Times Deutschland reports that 20,000 tickets to the event have been offered in a letter to thousands of local companies urging them to support the race.

Without the additional funds, organisers of the German grand prix are likely to pull off the formula one calendar next year, due to rising losses of several million euros per year.

The buyers of the 20,000 tickets will be accommodated in a new grandstand, to be installed at the circuit near the town of Hockenheim in Baden-Wurttemberg state.

The race organisers are expected to make a final decision about the 2010 event in mid March.

 

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