Organisers of the Brazilian Grand Prix at Interlagos are looking to end speculation the race could be dropped by extending their current contract to 2020.
Earlier this year F1 supremo Bernie Ecclestone threatened to axe the famous race if the ageing facilities at the Sao Paulo circuit are not upgraded.
However, Ecclestone has now confirmed he has received a letter from Sao Paulo's mayor Fernando Haddad giving him reassurances the whole circuit will be brought up to modern standards.
Now Brazil's O Estada de S. Paulo is reporting bidding for construction of a new three-storey pit complex as well as changes to the circuit layout is now underway with the changes planned for 2015.
The report said Sao Paulo would pay for the upgrade via a tourism strategy that is aimed at "maintaining F1 in Brazil and in the city of Sao Paulo," according to spokesman Nunzio Briguglio.
Meanwhile Bernie Ecclestone has also ruled out investing in the Nurburgring as this year's German Grand Prix venue continues to struggle financially.
Speaking at the venue last weekend Ecclestone had said he has been "thinking about" buying the bankrupt circuit.
"If I do that (buy the circuit)," the F1 chief executive had told Die Welt newspaper, "it would mean the German Grand Prix is secure in the future."
However, after the weekend it became clear Ecclestone had had a change of heart: "I thought about it and it is not practical for me," he said.
The comments comes after some reports suggest Red Bull owner Dietrich Mateschitz met with the chief of the Nurburgring Jord Lindner and the German Automobile club ADAC about bidding for the historic track.
Write for GiveMeSport! Sign-up to the GMS Writing Academy here: http://bit.ly/12evFlH
DISCLAIMER: This article has been written by a member of the GiveMeSport Writing Academy and does not represent the views of GiveMeSport.com or SportsNewMedia. The views and opinions expressed are solely that of the author credited at the top of this article. GiveMeSport.com and SportsNewMedia do not take any responsibility for the content of its contributors.
Do YOU want to write for GiveMeSport? Get started today by signing-up and submitting an article HERE: http://gms.to/writeforgms