Crucial Formula-1 talks in Jan

Hyderabad's fate as a Formula One venue would be decided during the next round of talks between F-1 administrators and a special negotiating team here on January 15-16.

"We have been negotiating with F-1 chief Bernie Ecclestone and the next round of talks are scheduled for January 15-16 during which the entire issue could be settled," an informed source in the negotiating team told PTI .

"The talks would be held between F-1 administration, legal, media and technical groups including McKinsey and Company. Media and television rights are expected to take a prominent place in the course of the negotiations," the source said.

F-1 organisers sent a draft agreement which covered the legal and infrastructure part of the project, he said and expressed confidence that Hyderabad would be the chosen venue for one permanent leg of F-1 racing starting 2007.

"This arrangement will continue for a period of seven years," he added. "Ecclestone has given the assurance that the Indian leg would start in 2007 and we are confident of completing the task well in time."