Formula One Boss Bernie Ecclestone has waived Bahrain Grand Prix Fee until rescheduling of event
Formula One supremo, Bernie Ecclestone, has updated media outlets on the Bahrain Grand Prix fee. He mentioned that Crown Prince Salman took the right decision based on the ground realities in Bahrain. He also added that Formula 1 will not charge the island
state any fees for the event.
Ecclestone commented to reporters, "Nobody gains from this, I want to be loyal to the King because he is doing everything he can to put things right with his people. He doesn't need people like me stabbing him in the back.”
The Fédération Internationale de l'Automobile (FIA) has already invested heavily on the Bahrain track, however as per the rules it is not bound to pay back its investment because the event was cancelled due to un-foreseen security reasons. As a result both
parties have an equal share in the risk and loss.
Ecclestone appreciated the decision made by the Prince and was also satisfied with the concern shown about Formula 1 and the members of the participating teams. The Formula One boss also added that he is still hopeful of finding a place for Bahrain on the
2011 racing calender. This will be a hard task because as of now 19 races have already been scheduled for the season.
Most Formula 1 teams are actually quite unhappy about missing out on the Bahrain GP because they felt the need for more practice on the different features and setups for their cars.
Ecclestone claimed that the civil unrest in Bahrain was beyond the organizer’s control and that he would spare them the fee. He went on to say, “Whether they are covered by their insurers for loss of revenues, ticket sales etc., I am not sure. But if anything
is force majeure then that (the political unrest) is. It is similar to if an earthquake had struck – no one could have foreseen that a month ago.”
Ecclestone clarified his point by mentioning the 1995 Pacific Grand Prix at Aida having to be switched from the month of April to October following an earthquake. The Brit then added that when the Bahrain GP is rescheduled the organizers will have to pay
their usual fee of $40 million.
At the end, he expressed his best hope for the rescheduled Bahrain Grand Prix and said, “If everything is peaceful, which we hope it will be, then we will try our best to fit it in.”
The 2011 Formula 1 season start has been pushed back to 27 March in Melbourne. It will be interesting to see how the teams adapt to the wet conditions of Australia compared to the dry tracks they were prepared for in Bahrain.
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