India's chances of holding a F1 Grand Prix got further boost on with Bernie Ecclestone provisionally allotting a race to be held in October 2009.
NEW DELHI: India's chances of holding a Formula One Grand Prix got further boost on Thursday with Bernie Ecclestone, chief promoter of the event, provisionally allotting a race to be held in October 2009.
The venue, like many other details, was yet to be decided but Delhi has been touted as the host city.
The race, officially termed 'Formula 1 Grand Prix of India', is to be promoted by the Indian Olympic Association and subject to the IOA entering into a final contract with Formula One Administration (FOA) by September 30 this year.
Under the terms of contract, specified by Ecclestone, Chief Executive Officer of Formula One Group, in his letter to IOA President Suresh Kalmadi, the IOA has to take the responsibility for entire financing of promotion and conduct of the race.
The race would also be subject to condition that proper land for building the track is identified by the IOA in consultation with FOA, and a favourable feasibility report is given by the latter's partner Tilke Associates.
Ecclestone's letter implies that the proposal to host a street race around the India Gate, advertised with much fanfare by Kalmadi's Parliamentary colleague Vijay Mallya a month ago, has been shot down.
Kalmadi, however, remained confident of completing the formalities as spelt out by Eccletone in his letter and signing the contract before the four months' deadline.
"I think we will be able to hold it. The purpose is to earn revenue for other Olympic sports," he said.
Kalmadi said he is hopeful of generating the huge amount of funds needed to host the event and finding the piece of land.
"We are capable enough to raise the money. We have done it in the past. We will do it. We can also find out land suitable for it," he said.
On why Delhi is being projected as the venue, Kalmadi said: "The Commonwealth Games are coming up. So we will have international airport, hotels and other infrastructure ready for this."
Asked how IOA, a national Olympic Committee could break the ice with a professional body like FIA, Kalmadi said: "But, we have done it. We are the first to do it."
He said the cost incurred on organizing the race will be much lesser than the normal expenses.
"It will be much lesser than what is (incurred) abroad," he said.
As India does not have an F1 racing track, the IOA has formed a four-member committee --comprising IOA Secretary General Randhir Singh, Vice President Vijay Kumar Malhotra, Treasurer AK Matoo and Athletics Federation of India Secretary Lalit Bhanot -- to look into the matter.
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