Formula One boss Bernie Ecclestone has agreed to continue to hold the French Grand Prix in its current venue in Magny-Cours until 2008 and possibly 2009, the French prime minister’s office said on Wednesday.

Ecclestone has said that Magny-Cours, located about 155 miles southeast of Paris in the Burgundy region and which replaced the Paul Ricard circuit as host for the French Grand Prix in 1991, is not up to Formula One standards.

He has said he wants the French Grand Prix to be held nearer the French capital. In a meeting on Tuesday with Francois Fillon, the French Prime Minister and Roselyn Bachelot, the Sports Minister, Ecclestone agreed to continue to hold the French Grand Prix in Magny-Cours up to and including 2008, the prime minister’s office said.

If another venue is not found in sufficient time, he agreed to retain the venue in 2009 as well. The prime minister’s office said three locations - the towns of Versailles and Evry and a site near the EuroDisney amusement park east of Paris - were being considered as replacement venues.

Bachelot would be holding consultations on the possible venues over the coming months, the prime minister’s office said.