The future of the German Grand Prix after 2014 could be in doubt as the financial struggles at the famed Nurburgring circuit continue.

That is the claim of F1 boss Bernie Ecclestone after he saw his attempts to save the historical circuit located in the Eifel mountains fail.

“The German Grand Prix is in trouble because they haven't got any money,” Ecclestone is quoted by City A.M.

“When I go to an auction I want to leave a bid, which is what I did, and somebody could offer more. I don’t know what’s happening there,” he added.

According to F1 business journalist Christian Sylt, Ecclestone revealed a decision on who will buy the Nurburgring circuit is due on Wednesday.

This year’s race takes place as the Hockenheim circuit as part of an alternation between the two venues that has been in place since 2007.

As one historic race looks in trouble, however, it maybe opens the door for another race to emerge in the Eurasia region.

Last year Ecclestone surprised journalists by revealing plans for a race in Baku, the capital city of Azerbaijan, now those rumours have resurfaced with some saying a potential race could be on the calendar as early as 2015.

“They are talking about 2015,” said Ecclestone. “That may be a bit soon unless it is the end of the season. That is a possibility but 2016 is more likely.”

Should these plans be true a race any likely place on the calendar would be close to the new-for-2014 Russian Grand Prix at the Olympic Park in Sochi.

Despite recent controversies over homosexuality laws and the current crisis with Ukraine, Ecclestone remains a strong supporter of the race, which now he is trying to convert into another night spectacle.

Ecclestone described a race in Russia as a “no brainer” for the sport.

“We have to be there,” he said. ”It is a huge market and full of potential fans for the sport. They really want F1 and we want a race there to work.

“I have no problem with Vladimir,” Ecclestone is also quoted by the Daily Mail.

“He ran a good Winter Olympics. We get on very well — no problems,” he added.

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