Prague could be set to host a Formula One Grand Prix, with the Czech Republic expressing a strong interest in the sport.

A new circuit is expected to be located outside Prague city centre, with plans for the venue already well underway.

Circuit promoter Toni Charouz has revealed that work on the track is expected to begin next year as planning is "90 per cent complete".

F1 circuit designer Hermann Tilke has drafted the layout of the track, which will run through the streets of the city and include a 1.3-mile permanent section.

However, before F1 arrives, the venue could stage a round of the Deutsche Tourenwagen Masters series.

"F1 is the ambition," Charouz told Autosport.

"If we put on a good show with the DTM, then maybe we can have a grand prix, but we've got nothing on paper yet.

"This track will be very central in a city of 1.5million people. This type of track is the future of motor racing."