India slams F1 race demise rumors

(GMM) The promoter of the Indian grand prix on Wednesday slammed rumors the race may fall off the calendar after 2013.

Reports early this week said existing F1 events in Korea and India may not take place next season, with India's promoting Jaypee Group not committing to funding beyond this year's race and "nearing bankruptcy".

Jaypee spokesman Askari Zaidi said on Wednesday: "Some international news organizations are trying to spread rumors that (Jaypee) may not host (the) 2014 Indian GP.

"This is totally baseless and malicious."

The reports about India's F1 demise also cited poor race attendance, with the Indo-Asian News Service saying on Wednesday that while a crowd of 95,000 gathered in 2011, that figure dropped to 65,000 last year.

But Zaidi insisted: "Our agreement with formula one management is to hold F1 races at Buddh international circuit until 2015, and we are fully committed to do that."

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