Jul.21 (GMM) The clock is ticking if the Nurburgring wants to book a place on the 2013 calendar.

That was the warning issued on Friday by F1 chief executive Bernie Ecclestone, after the German circuit's management last week launched a voluntary insolvency process.

The news has gravely endangered the Nurburgring's formula one race, with the track scheduled to appear on the 2013 calendar as per the alternation arrangement with Ecclestone and Germany's other grand prix venue, Hockenheim.

In an interview due to be published by Rhein-Zeitung newspaper on Saturday, Ecclestone confirmed reports he has offered by waive the Nurburgring's mandatory race sanctioning fee for 2013.

But he warned: "The negotiations have to be finished in the next few weeks, if a race is going to take place in 2013."

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