The FFSA has issued the following statement this morning:

Following its meeting in Paris on July 19 under the presidency of Nicolas Deschaux, the FFSA Executive Committee wishes to underline the importance it attaches to the French Grand Prix which it saved in 2003 after the event was dropped by the Société du Circuit de Nevers Magny-Cours.

The FFSA Executive Committee would like to reaffirm its determination to organise the French Grand Prix until its contract with the FIA Formula 1 World Championship rights- holding company expires in 2011.

With regard to the 2008 race, its entry will be confirmed on condition that contractual agreements are obtained with the Conseil Général de la Nièvre and the Conseil Régional de Bourgogne in compliance with these bodies' pledge to increase their support to the Federation in order to permit the event to balance its books.

Meanwhile, the FFSA Executive Committee has decided to implement a search for sites with a view to durably ensuring the future of the French Grand Prix. This approach, which has become necessary in today's context of growing international competition and the rapid evolution in organisational and accommodation standards, will place the accent on innovation, financial viability and a bid to obtain partnerships between the private and public sectors which are indispensable for this type of event.