According to latest reports, the French Grand Prix is set to be cancelled from the 2004 Formula One line-up due to financial problems. The French Grand Prix was already listed as provisional when the calender was released a month ago. Tt now appears as if the Magny-Cours circuit is unable to supply FOM with the guarantees it needs to enable the race to go ahead as planned.
"It is not possible to give Formula One chief Bernie Ecclestone the guarantees he requires for the finance of the race in 2004," President of the Nievre regional authority, Marcel Charmant, told the Journal du Centre newspaper.
Further reports indicate that organizers of the Magny-Cours event are still in debt for 6 million pounds to Ecclestone from the 2003 event and that debt must be paid by December 18 if there is to be any chance of the F1 circus making a return visit next July.