Only 'losers' if F1 splits

(GMM) The boss of the German F1 venue Nurburgring on Friday said he was dismayed at the news that the world of grand prix racing could split in two.

If Friday's last-gasp meetings at Silverstone do not end the standoff with the FIA, eight existing formula one teams have said they will organize a rival series.

"In the case of a split there are only losers," Nurburgring managing director Walter Kafitz told the German news agency SID.

"What happened in America is the best example. It is bad for motor sport," he added. "I only hope now for reason. Formula one has stood at the abyss before and nothing happened.

"There is still much water to flow down the Rhine."

The Nurburgring will host the 2009 German GP next month, and is contracted to stage another formula one race in 2011.

Kafitz said he is unsure if the promotion contract with Bernie Ecclestone forbids the Nurburgring also negotiating for a round of the breakaway series.

"That is a legal question that I have not looked into yet," he answered.