Bernie Ecclestone will meet with a Bulgarian Motorcycling Federation (BMF) delegation on July 10-12 in what Bulgarian organisers hope would translate in adding Bulgaria to the Formula One calendar.

Representatives of the race organising committee have received a formal invitation to the German Grand Prix in Nurburgring, where they are to meet with Ecclestone, Bulgarian  news agency Focus on July 2.

Should Bulgaria be given the green light, the promotion contract could be given an initial duration from 2011 to 2015 with an option of extending it further. Earlier in March, the BMF said it was  in serious negotiations about getting to host a round of the Formula One championship.

BMF head Bogdan Nikolov said at the time that the federation expected a quick outcome. Based on the result of the negotiations, Bulgaria could build a second racing track suitable for major international  events.

The BMF is also conducting negotiations with the F1 chief executive regarding the allocations of funding for the construction of a Formula One circuit.

Georgi Yankoulov, president of the country's other motorsport body, Bulgarian Motorsport, said quoted by Dnevnik daily: "I am not against the idea but I have moderate expectations about it. The task is too complicated and difficult especially in the current situation of an economic crisis with sponsors are backing down.

"Formula One is not just about building a track. You need the proper infrastructure for it such as hotels, airport, good roads and service. The Black Sea town of Varna seems the most appropriate choice should Bulgaria gets to host F1 races," he said.