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Russia hoping for green signal for Sochi Grand Prix 2014

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Russia hoping for green signal for Sochi Grand Prix 2014 
Considered to be one of the world’s super powers, Russia is now making efforts to renew their bid to bring Formula One racing, the biggest motorsports racing competition of the world, to the city of Sochi.
Bernie Ecclestone, who is the head of Formula One, has agreed to the terms and conditions for the Grand Prix which will be held in four years time (2014). During this time, the Winter Olympics will be held at the Black Sea Resort.
Work will begin as soon as Russian Prime Minister Vladimir Putin inks the agreement. A 200 million dollar circuit will be built once the terms and conditions have been finalized. The Russian Prime Minister earlier played an instrumental part for his country
in his bid to win the right to host the Winter Games.
Signals coming from the F1 supremo are bright who remains hopeful that after lengthy discussions with Russian officials, F1 will be able to move forward cohesively in organizing one of the best races that the world will ever see.
Though an agreement has been reached between the two parties but an official document is yet to be signed and nothing can be taken for granted until and unless every process has concluded safely. Ecclestone believed that he is waiting to get the signatures
of the higher authorities in Russia. Once they give the clearance, he will follow up with his signature to give Russia an official green signal for hosting the Sochi Grand Prix.
Russia would have to pay an annual fee of around $40 million for hosting rights. The amount is quite similar to what authorities in Singapore and Abu Dhabi pay - both have been added as new hosts in recent years. But one thing that will bother Russian F1
fanatics would be the breakdown in agreement at the last stage that occurred in 2002. Fans will be hoping that this time round things go smoothly as they are anticipating a Grand Prix in their own country.
Spectators will now be playing safe and will not rush to book their tickets as they did 8 years back but what followed then was pure agony for racing fans in Russia. Formula One head and Moscow’s former Mayor Yury Luzhkov were all set to put pen to paper
for agreeing a deal in 2002 but out of the blue, the agreement collapsed. The incident was touted as the end for Formula One racing in Russia.
Moscow’s former mayor has earlier criticized authorities heading Formula One and said that they wanted to take all the profits which would have left the hosting country in tatters.
Russia has never ever hosted any big motorsports event and their shocking bid for 2014 Grand Prix have raised several questions on their credibility to stage the event. They have a mountainous task ahead as they will have to build a new racing circuit in
Sochi’s Olympic Park. The dream could be sweet but in reality, things can go really sour because national pride will be at stake for Russia.
Ivan Samarin, who has been driving in the Formula One circuit, has shown his reservations over the prospect of staging the Grand Prix in Russia as well. He said, “How can you just jump out of nowhere to bid for the biggest race? Our country should build
some national circuit before they start the work of building a completely new racing circuit in Sochi.”

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