Ecclestone says deal close on Belgian GP

Formula One supremo Bernie Ecclestone says he is close to reaching a deal with the Belgian government to secure the future of the country's Grand Prix after the local promoter ran into financial trouble

Dec 8, 2005, 9:03 AM

The regional government of Wallonia has been engaged in a political row about the possible tens of millions of euros it might have to pay Ecclestone to keep the Spa-Francorchamps race on the calendar.

Ecclestone told Belgian television station RTBF on Wednesday night he would take over promotion of the race and a deal would be reached at the beginning of next week.

"We are at a very serious stage in the negotiations," the 75-year-old Briton was quoted as saying in a French transcript of the interview posted on RTBF's website.

"We want to be sure to guarantee the existence of this Grand Prix. And we don't want to do it for one year. We want long-term stability."

Although it is one of the great and historic Formula One circuits, the promoter ran into trouble after poor ticket sales this year and the government had to lend him 15 million euros ($17.58 million) to pay Ecclestone.