New A1-Ring gets go ahead
The Styrian government approved plans for the new track and motorsports centre, which will be called Spielberg New and is scheduled to open in the Spring of 2010.
The new circuit will follow the layout of the A1-Ring, which held seven grands prix between 1997 and 2003, with the addition of a loop using the old Flatschach straight - part of the old Osterreichring, which hosted Formula One from 1970 to 1987.
It was originally hoped that the new circuit would be finished in time to hold a DTM round next season, but environmental protests delayed the project's approval until now.
Mateschitz is reported to be investing 70 million Euros into the facility, along with a nine million Euro subsidy from the Styrian government.
The Red Bull boss also stated that he has no intention to bring Formula One back to the circuit.
