Zandvoort has taken another step towards the F1 calendar.

Already, the Dutch circuit has signed a deal with Liberty Media to negotiate exclusively until the end of March about a grand prix in the Netherlands in 2020.

Now, Dutch media report that the municipality of Zandvoort has pledged EUR 4 million towards the funding.

"We are happy to invest in the return of formula one to the most beautiful circuit in the Netherlands," councillor Ellen Verheij is quoted by Noordhollands Dagblad newspaper.

"We are proud to stick our neck out for formula one and Zandvoort."

The EUR 4 million will be funded by increasing the tourist tax by 50 cents per night.