F1 Breaking News: Controversy engulfs Korean Grand Prix
Nearly two weeks ago, Yeongam played host to one of the most eventful, action packed, dramatic and most importantly, ‘deciding’ Grand Prix of the 2010 Formula One season. The race in Korea was a first of its kind and was subsequently subjected to a lot of
media hype and speculation. However, while the race was over, the event was winded off as a huge success for the multi-million dollar sport and the Asian country, a cloud still hovers over the future of Korea's Formula One race.
It is with immense regret Bettor.com reports to you; our usually informed reader, that the Yeongam circuit has failed a state safety inspection and called off a potential Formula 3 race that was subjected to follow the successful launch of the circuit after
the inaugural Formula One Grand Prix. The subsequent F3 race was scheduled for November this year. The event was heavily questioned due to upcoming reports of corruption within the organizing company and KAVO; the Formula One promoting body.
According to a local, Korean spokesman, it is believed that the South Jeolla provincial government is set to investigate the cash flow statement regarding the Korean circuit; with alleged claims that a portion of the budgeted construction amount spent without
proper documentation.
"Over the next week, we're going to look through all the documents of KAVO." claimed the Vice Chariman of the Provincial Assemly, Mr. Jung Hwan-dae
He further added, "We're also planning to summon officials from KAVO to investigate how the money was spent. There is something wrong here."
The ‘undisclosed’ expenditure amounts to more than $50 million. The accusations do not end there, sadly. The media has further reported more foul play suggesting that construction firms were paid off to avoid fees.
A KAVO spokesman was rather reluctant to comment or offer a solid argument that reflected how the missing money was spent, but commented: "No illegal conduct took place."
And we repeat, ‘No illegal conduct took place’ – While the masses want their queries answered, a string of 5 words was all the promoting body spokesman could offer. However, with all said and done, the Korean Grand Prix was an extremely special event; possibly
the highlight of the current season according to some Formula One Pundits. The Asian crowd was most welcoming, the facilities on track were second to none and on that note, Yeongam’s credibility should not be questioned too easily – For all we know, ‘No illegal
conduct took place’ might actually hold true with a little time.
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