Funding in place for French Grand Prix

Talks have been held with F1 supremo Bernie Ecclestone for Formula One to return to the Paul Ricard circuit in Le Castellet, near Marseille, France for the first time since 1990 in a shared race scenario with Circuit de Spa-Francorchamps in Belgium.

In 1991 the French Grand Prix moved to Magny-Cours, but in 2008 F1 moved away from France and as yet has not returned.

Funding is now in place to see it return and they are now awaiting news from the Belgian side of the deal.

The Belgian Grand Prix is one of the most popular races on the calendar for spectators in Britain and across Europe, but financial problems across Europe, has raised question marks over its long-term future with its current deal expiring at the end of next season.

'I told Bernie we were ready. We have discussed our finances and he has agreed. Now we await the position of our Belgian friends since the project is to alternate between Castellet and Spa. France's Sports Minister David Douillet told France's RMC Sport as quoted by Sky Sports.

'They have constraints with respect to a contract that binds them still to Bernie Ecclestone for the use of the circuit.

'They need to work it out among themselves. But we are ready and we need it. I remind you that we have a nice car industry'

It is thought that the French government are aiming to have a deal in place before the first round of Presidential elections in April.