A deal has been agreed for the Nurburgring to host the 2013 German Grand Prix, according to Formula 1 supremo Bernie Ecclestone.
The future of the event had been in doubt for several months as financial difficulties threatened the Nurburgring ability to host a grand prix.
Ecclestone said on Monday that talks had 'regrettably' broken down because terms being offered by the track were 'not financially acceptable'.
Ecclestone has however confirmed to Reuters that a deal has been agreed and that a race will take place on July 7.
"I treasure the Nurburgring and its history," Ecclestone said in a statement on Thursday.
"In view of its long tradition, I was glad to support choosing the Nurburgring as the venue for the Formula 1."
The deal means 19 races have been confirmed for the 2013 calendar.
The vacant July 21 slot is yet to be filled, despite reported interest from Turkey, Austria and Portugal.
2013 Formula 1 calendar