Just 48-hours after announcing that the Belgian Grand Prix has been dropped from the 2006 calendar, it has been revealed that a new 5-year deal has been agreed - from 2007 - which will see Bernie Ecclestone promoting the event.

According to Belgian broadcaster RTBF, the (regional) Wallonian government has agreed a deal with Ecclestone which will see the authority contribute £5.7m a year - £4m in direct aid, and the remainder in the form of 'sponsorship'.

However, the region's economics minister, Jean-Claude Marcourt, was at pains to emphasise that the 5-year deal with Ecclestone is not yet 100 percent official.

The event's absence from the calendar this year, will give the government the time - and the impetus - to carry out the redevelopments that Ecclestone has demanded.

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