London mayor Ken Livingstone has insisted that formula one will not be staged in the British capital.
At an event on Thursday to announce London’s route of the 2007 Tour de France, he said organising a grand prix would not make economical sense.
“To get a grand prix you are talking about $56.5 million,” Livingstone was quoted as saying by the British Guardian broadsheet.
“If I dipped into the council tax payers’ pockets to come up with $56.5 million for a grand prix I don’t think I would be able to walk safely down the streets.”
London’s West End flirted with the sport in 2004 for the popular ‘London comes to Regent Street’ F1 street parade.