File photo: Reuters

Athens - Formula One chief Bernie Ecclestone said Wednesday that he is keen to hold a Grand Prix in Greece, saying it could be possible even though the country is still struggling economically.

“The Greeks are keen,” Ecclestone told CNN. “They want me to go and see the prime minister or the mayor.”

“We will have to find out if they have got any money,” he added.

Plans for a race have been rumoured for several months, with Ecclestone's company Formula One Licensing registering the Formula 1 Mediterranean Grand Prix as a trademark at the end of May.

The CNN report added that private investors are looking at building a circuit in the Keratsini-Drapetsona municipality, near the port of Pireaus.

Reports said hosting a Grand Prix would require a total investment of around 1 billion dollars in order to build a track and cover the Formula One hosting fee, which normally runs for 10