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IOA signs deal for F1 race in Delhi
Published on Thu, Jun 14, 2007 at 15:11, Updated on Wed, Jun 20, 2007 at 08:38 in Sports section
Tags: F1, Grand Prix , New Delhi
New Delhi: The Indian Olympic Association (IOA) has signed a deal with the Federation Internationale de l'Automobile (FIA) for a Formula One Grand Prix in New Delhi.
Chief Executive Officer of Formula One Group Bernie Ecclestone has agreed to give India a race in 2009 and from then on it will become an annual feature.
Making the announcement in New Delhi on Thursday, IOA President Suresh Kalmadi said, ""We have bagged a F1 championship for India. We have received a letter in this regard from Bernie Ecclestone, CEO of Formula One."
"The IOA will be the promoter, the first event of which will be held in 2009," Kalmadi added.
Ecclestone is also very enthusiastic on a having a F1 Grand Prix in India.
"It is not vital to Formula One to be in the United States. There are bigger markets for us to be in other parts of the world. We could be in India soon instead of the United States," he was quoted as saying by England's Daily Express newspaper on Thursday.
The race will most probably be held in October 2009 and it will not be held on a street circuit but a new stadium with a racing track will be built.
The race will be officially called 'Formula 1 Grand Prix of India', but subject to the IOA entering into a final contract with Formula One Administration (FOA) by September 30, 2007.
The terms of contracts state that the IOA has to take the responsibility for entire financing of promotion and conduct of the race.
Moreover, the IOA has to find a land for building the track in consultation with FOA and a favourable feasibility report must be given by the latter's partner Tilke Associates.
"I think we will be able to hold it. The purpose is to earn revenue for other Olympic sports," Kalmadi said.
"We are capable enough to raise the money. We have done it in the past. We will do it. We can also find out land suitable for it," he added.
Kalmadi also said that Delhi was the ideal choice for holding a F1 race as the city will be hosting the 2010 Commonwealth Games.
"The Commonwealth Games are coming up. So we will have international airport, hotels and other infrastructure ready for this."
Asia already hosts four F1 races in Malaysia (Sepang International Circuit in Kuala Lumpur), Bahrain (Bahrain International Circuit in Sakhir), Japan (Fuji Speedway in Oyama) and China (Shanghai International Circuit in Shanghai).
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hey that is a gr8 news.... as long as it is hosted in india,, least bothered about which city it
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atleast there is one circuit in tn. nothing there in bangalore.
f1 is an costly sport which no one can afford
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dude which Bangalore r u talkin abt......
bangalore used to be a beautiful city with gardens and beautiful climate and trees.....
bow
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Because of people like India will never go forward, for every single action you have say something bad about it.
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Happy to raise funds for F1, when indian sports is in doldrums!!!!. Sad but true. While the IOA is excited
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