F1 boss Chase Carey keen on adding race in Danish capital Copenhagen by 2020

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Formula One boss Chase Carey has backed plans for a new street race in the Danish capital Copenhagen.

Carey met officials to discuss proposals -- aimed at holding a race by 2020 -- in the Danish capital on Wednesday. The meetings come less than a year after a Danish consortium revealed plans for a 4.5 kilometer circuit, which would run through the old city centre and past the home of the Danish parliament.

"We're excited about the opportunity to explore a potential race here," Carey said, adding that a final decision had not been made.

"Copenhagen represents the type of location we think can really provide a great platform," he continued. "Scandinavia has been a great part of our sport and having local drivers is always a plus."

F1's new owners Liberty Media are keen to add a number of 'destination cities' to the calendar and have targeted new events in key markets including the U.S. and Asia, as well as strengthening F1's European heritage. The project is backed by Danish business magnate Lars Seier Christensen -- a former personal sponsor of Romain Grosjean -- and ex-MP Helge Sander.

"They don't just see it as Copenhagen but as all of Scandinavia which is a potential market for them," Christensen told a press briefing ahead of Carey's visit.

He added the estimated budget is 300-500 million Danish Krone (£35.7m-£59.5m) per race, while the expected income from spectators including tickets is valued at 1-2 billion Danish Krone (£119m-£238m).

Haas driver Kevin Magnussen is currently Denmark's sole representative in F1. If the race were to come off, it would be the inaugural grand prix in Denmark, and the first to be held in Scandinavia since the 1978 Swedish Grand Prix at Anderstorp.