Bernie Ecclestone confirms Bahrain government paid hosting fee – Formula 1 news
Formula 1 chief Bernie Ecclestone has confirmed that the Bahrain government paid 25 million pounds as the hosting fee even though the Bahrain Grand Prix was cancelled earlier in the 2011 season due to civil unrest.
Bernie made this announcement Monday, September 19, 2011.
The Bahrain GP that was scheduled to take place at the beginning of this year’s Formula 1 season had to be postponed due to political instability in the country. Later on, when the organisers and the International Automobile Federation (FIA) wanted to reschedule
the race, protests in Bahrain against holding the race started out which forced the organisers to cancel the race altogether.
Formula 1 will not be suffering any financial losses as was speculated. Bernie said, “I said we will give them the money back and they said don’t bother.”
It was predicted that there might be a fall in FIA’s revenue due to this financial setback, however that is not likely to happen now.
Ecclestone added, “I don’t think the turnover will be down this year. It will be flat. I think the profit will be more or less the same as 2010.”
The Bahrain GP will now be taking place during April in the 2012 Formula 1 season. The Bahrain government has shown its keenness in holding this event and has been very cooperative so far.
The 80-year-old is thus very optimistic about his targets for next year. He is hopeful that the race will not be cancelled again.
Bernie has plans to take Formula 1 to other countries. He wants to go to Russia, Mexico and South Africa.
“After Russia I would like to go to South Africa and Mexico. Both countries are trying to do something,” he recently said.
Let’s see what the future has in store for all Formula 1 fans regarding the future of the Bahrain Grand Prix.
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