Ecclestone, Red Bull, agree deal for 2014 Austria GP

Bernie Ecclestone has agreed a deal with Dietrich Mateschitz for a grand prix at the renovated and relaunched Red Bull Ring in 2014.

The energy drink company, headed by Austrian billionaire and F1 team owner Mateschitz, stunned the formula one world with the news that was delivered via a brief statement early on Tuesday.

Austria last hosted a grand prix, held at the same Spielberg circuit then known as the A1-Ring, in 2003.

"Dietrich Mateschitz and Bernie Ecclestone have reached an agreement to the effect that formula one will return to Styria next year," Tuesday's statement read.

However, subsequent media reports, including by the German news agencies SID and DPA, clarified that the race will in fact only take place on July 6 next year if "all necessary regulatory approvals" are given.

(GMM)

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