The future of the German Grand Prix remains hanging in the balance but Bernie Ecclestone says he is committed to making the race happen.
The Nurburgring is due to host the GP this year as part of its rotation plan with Hockenheim, but financial woes have left the circuit unable to afford the race.
Ecclestone had been in talks with officials in an attempt to save the race but told German magazine Spiegel that: "After due consideration of their proposal we believe it is regrettably not financially acceptable, so we have terminated our negotiations."
However, while Nurburgring's chances of hosting the race are looking slim, Hockenheim may be asked to fill the void.
"I am doing my best to make sure we have an event in Germany," Ecclestone told the Associated Press, "but, at the moment, I can't say whether it will be Hockenheim or Nurburgring."
In an additional twist, Pitpass have reported that Jorg Linder and Kai Richter, two businessmen involved with the Nurburgring, are suing the circuit's boss, Karl-Josef Schmidt. The duo allege that Schmidt damaged the negotiations with Ecclestone.