Toni Charouz, boss of the Prague Sport and Car Centrum city circuit, has revealed that the Czech Republic is hoping to host a round of the Formula One World Championship.

Though unwilling to go into details, Charouz admitted that initial negotiations with Bernie Ecclestone are underway and Herman Tilke (groan) has submitted a rough draft of the facility, located just 3 miles from Prague city centre, and which will include a permanent 1.3 mile circuit and a temporary street track (groan).

The Prague Sport and Car Centrum city circuit is already in negotiations to host a round of the DTM series, however, Charouz is looking beyond, to F1.

"Formula One is the ambition," he said, according to Autoweek. "If we put on a good show with the DTM, then maybe we can have a grand prix, but we've got nothing on paper yet.

"This track will be very central in a city of 1.5 million people," he added. "This type of track is the future of motor racing."

In addition to the circuit, the £100m development will include a complex of car dealerships and a casino, with Charouz claiming that the planning process is "90% complete).

While Charouz might believe that "this type of track is the future of motor racing", some might argue that the Czech Republic already has an excellent race track in the shape of Brno, which has hosted MotoGP, FIA GT, the World Touring Car Championship, Formula Two, the Superbike World Championship and A1 GP.