Friday is the day when it will become clear whether Bulgaria will host a Formula One Grand Prix.

The announcement has been made by the President of the Bulgarian Motorcycle Federation (BMF), Bogdan Nikolov.

He explained that F1 chief, Bernie Ecclestone, must decide whether Bulgaria would host a round of the championship in 2011 or 2012.

"Ecclestone and his team will gather and discuss the matter at the Belgium Spa", Nikolov said. This weekend, the Belgium track will host the twelfth round of the F1 championship.

BMF's President also announced a change in the plans for the location of the future track for the most popular automobile sport and the World Motorcycle Championship MotoGP.

It will be constructed on the terrain of the Dobroslavtsi airport near the Bulgarian capital Sofia. The initial plans were the track to be built near to Dolna Mitropoliya, and later Varna was also discussed as a location.

Varna was considered a perfect location because of its existing infrastructure, the hotels, the near airport, and the plenty sunny days around the year.

Nicolov also made it clear where the money for the annual participation fees, which vary from EUR 20 to EUR 23 M, would come from.

"There will be share holders. The state will not participate in this", he said.

On Thursday, Bernie Ecclestone announced that he did not intend to lower the hosting fees, despite the financial losses that all European grand prix organizers

Bulgaria is hoping to secure a 10-year deal, starting from 2011 or 2012.

Hungary is currently the only grand prix in Eastern Europe but neighboring Turkey is most likely to give way to any Bulgarian race.

This year's grand prix in Istanbul attracted a small crowd, with only 36 000 three-day tickets sold, and local organizers there have expressed concern that their contract could end in 2011.