Hopes of the Hockenheimring continuing as a F1 circuit have been raised after another meeting with Bernie Ecclestone.

Following the talks, Karl-Josef Schmidt, financial chief executive of the company which runs the track, said: "There is a noticeable will on the part of Mr Ecclestone to keep Formula One at the Hockenheimring."

Schmidt added that he believes a decision on the circuit's future could be reached by the end of the month, in order to leave enough time to prepare for the 2010 German Grand Prix at the venue.

"The situation needs to be sorted out soon," he stressed.

The regional council, which owns 94 per cent of the Hockenheim Circuit company, announced last week that it was withdrawing its support for the track.

Last year's race registered a loss of 5.3 million euros and the proposed 2010 race at Hockenheim is expected to have a deficit of around 6 million euros.

Schmidt described the move by the council to end its dealings with the loss-making track as "counterproductive".

This year's German Grand Prix takes place at the Nurburgring on July 12.