>


Advertisement
Rumors
Rumor Rating Description
A rumor rated as 'speculation' is one that has no supporting information
A rumor rated as 'strong' is one where we received information from more than one source.
A rumor rated as 'fact' is one that has proven to be true
A rumor rated as 'false' is one that has proven to be false based on new information
These rumors are just that, RUMORS, and are not to be taken as 'fact' unless so noted.  Please visit our Hot News page for news.  If you have a rumor, or can supply more information about one listed here, e-mail us with as much supporting information as possible and we may post it. User Agreement and Disclaimer. Newer rumors supersede older ones of the same topic.  Go to our forums to discuss any rumor.
for your iPhone
for your iPad

2015 IndyCar Silly Season Page | 2015 F1 Silly Season Page

Go to our forums to discuss this news
DATE News (chronologically)
11/21/12
f1
Money-losing Korean GP could get axe to make way for NJ, Mexico or Russia  
Vettel and Webber lead at the start
The Korean Grand Prix racked up substantial operating losses last month, the third year running it has finished in the red, potentially threatening its place on Formula One's calendar.

The South Korea race, first run in 2010, returned operating losses of 39.4 billion won (£23 million), race organizers said.

One of nine Asian races on the 20-stop 2012 Formula One calendar, including the Asia-Pacific Australian Grand Prix, the South Korean event also lost an estimated £30m-plus in its first year.

"It's hard to say what kind of impact the loss has on next year," South Korean race organizers told Reuters. "Although there are many concerns regarding the operating loss, the loss for a third straight year is only a short-term effect.

"In the long-term the F1 event will bring more benefits to the country. It will not only pave the way for South Korean car industries in the future but also help foster new industries."

The Yeongam circuit, 400km south of Seoul, has an initial contract of seven years, with a five-year option that could keep the race there until 2021.

However, it has been plagued by problems, even before opening in 2010, when construction of the circuit was only just finished in time for its maiden race.

South Korean organizers have expressed dissatisfaction at the terms of their contract with Formula One, particularly over the cost of race-sanctioning fees.

However, their complaints have fallen on deaf ears with Formula One supremo Bernie Ecclestone. Yahoo! Eurosport

Rumors Archives
2000 2001 2002 2003
2004200520062007
2008200920102011
2012201320142015

Search Rumors
Search Help

Banner 10000012