F1 agrees new German GP deal - report

The German grand prix has been saved, according to the local Frankfurter Allgemeine Zeitung (FAZ) newspaper.

Earlier, with Liberty Media's plans for a Miami GP next year in tatters, talks about reviving a contract at Hockenheim began.

Lowering the price fee

FAZ says a deal has now been done, with Chase Carey agreeing to a lower race fee to be paid by Hockenheim promoters.

READ: German 'alliance' tries to save Hockenheim GP

"The new contract should be signed in September," the newspaper said.

Late on Monday, however, the bosses at Hockenheim did not want to comment.

According to Bild newspaper, Formula 1 commercial boss Sean Bratches said of the recent negotiations: "We're working on it. Don't write it off yet."