Formula 1 fails to make it to the Olympic Park in London – Formula 1 news
Intelligent Transport Solutions, a company based in East London, had made a bid for a race in and around the London’s Olympic Park but the London Legacy Development Corporation (LLDC) has rejected it.
LLDC said, “Intelligent Transport Services were unsuccessful due to too much uncertainty in relation to key aspects of their bid and assumptions in their business plan.”
The bid for the race was shortlisted by the LLDC along with three other bids from football clubs that included the West Ham, Leyton Orient and UCFB College of Football Business. The bid for the race remained strong for several months but finally the bid
that won was the one made by West Ham.
The bid had been made in association with F1 but in June, when the bid had initially made it to the news, F1 boss Bernie Ecclestone had refused to put his name to it. In October, Ecclestone said that F1 will not be hosting a Grand Prix in the Olympic Park
as nobody in F1 community was much serious about it.
On the other hand, the F1 Boss did hint about trying to make space for a London GP in the F1 calendar. He said that they have been trying for such an event since a McLaren sponsors’ event used a virtual circuit in London. Ecclestone insisted that while they
were ready to contribute financially for the race to happen, he does not think that the government will be ready to pay the required money.
The Queen Elizabeth Olympic Park is a sporting complex that was built to host the London Olympic Games 2012. Ecclestone said that London did a very good job of hosting the games this year and it is the first time that he has been proud of the city.
He said that the games had the support of a whole nation behind it but it is his belief that F1 could have done the same job with much less effort. He told that if you consider correctly then F1 is British. He pointed out that how much F1 was popular and
established winning world championships and that without any financial support given by the government unlike the Olympic Games.
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