Indian GP deal not sealed yet – reports

Fri, 15 June 2007, 06:40

Indian publications have expressed scepticism after the country’s Olympic Association on Thursday revealed a deal to host a grand prix in New Delhi in 2009.

DNA India reports that the announcement relates only to a ‘letter of intent’ signed by F1 supremo Bernie Ecclestone.

The next – and more important – steps, it added, will be the signing of a memorandum of understanding and then finally a proper contract.

“There’s nothing new here,” the report said. “A similar letter of intent was signed between formula one management and the Andhra Pradesh government in 2004 for staging a grand prix in Hyderabad.

“But it didn’t take off.

“Ditto with Moscow in Russia and Cancun in Mexico, where letters of intent were signed for staging grand prix races.”

The president of the Indian motor sports federation Vicky Chandhok, meanwhile, said: “This is an expression of interest. Nothing more, nothing less.

“Until the time the contract is signed, there is no race.”

Williams’ Indian test driver Narain Karthikeyan added: “The actual work starts now. To build a track in such a short time is the biggest challenge.”

Report also questioned New Delhi’s ability to even acquire the necessary 600 acres of land, and find sufficient government or private funding.

Indeed, Ecclestone’s letter of intent read: “It will be the (promoter’s) responsibility to get the support of the governments to get a circuit constructed at a site which is acceptable to (us).

“It will be (the promoter’s) responsibility to raise the necessary financing, whether through government or private funds (or combination thereof).”

You may also like