By GMM

Endangered formula one venue Magny-Cours on Friday unveiled plans to improve the circuit and retain the French grand prix beyond this weekend's race.

Organisers have branded the project 'Magny-Cours 2', acknowledging the rising standards for hosting and retaining a spot on the annual grand prix calendar.

F1 chief executive Bernie Ecclestone has said his sport will now move away from the isolated rural venue, and possible alternative hosts including Rouen, Le Mans and Paris have emerged.

But in a statement issued in French on Friday, Magny-Cours vowed to build 27 new stands, widen the pitlane and start-finish line, build a new media centre, improve paddock facilities and support local hotel infrastructure.

"Magny-Cours 2 is essential to maintain this great international circuit at a level of excellence, reflecting the position of our country, its sporting federations and athletes on the world sporting scene," the statement said.