$240m Nurburgring upgrade to sink Hockenheim

(GMMf1NET) With the future of Hockenheim in serious doubt (see rumor below), Germany's other formula one host has vowed to plough $240m into upgrading its track.

Nurburgring boss Walter Kafitz told the 'Rheinzeitung' newspaper that the revamp – masterminded by renowned F1 architect Hermann Tilke – will be the biggest since 1927.

Among the Nurburgring facelift, to be partly financed by private investors, will be a new main grandstand, a four-star hotel and shops.

Construction approval for the upgrade is already being sought, the German newspaper said.