Will Chinese continue to lose money on F1?
"As long as there is China, we will be here," Formula One Management's Ecclestone told Reuters. "Asia is growing while many parts of the world are dying, that's the difference. It is disappointing that it's not supported by local companies and I think they're missing an awful lot; it seems to me in China that nobody cares about branding and a Grand Prix is a good chance to promote a brand."
The 2009 F1 Chinese Grand Prix successfully crowned another winner on Sunday, but its future in China after 2010 remains a question mark. To be or not to be for Formula 1: here's more on the story.
During the past week, this was paradise for Formula One fans. They came to the Shanghai International Circuit to enjoy the annual motorsports event. Besides the fantastic F1 race, the improvement in infrastructure and service here also won their approval. A brand new cafe street was set up in 2008 to solve food supply issues. Food with Taiwanese flavor attracted many spectators this year.
But the fans may not know that the contract between Shanghai and the F1 management company will expire in 2010. And the two sides have not reached a deal to extend the contract so far.
The main problems puzzling Shanghai include the sponsors, the huge expenditure and challenges from other Asian cities. The 2010 Chinese GP will become F1's finale in China if a deal cannot be reached before the announcement of the 2011 F1 schedule.