George says USGP was not a bust

Indianapolis Motor Speedway (IMS) CEO Tony George said this year's F1 U.S. Grand Prix financially “was OK, it wasn’t a bust," according to Jim Peltz of the L.A. TIMES. With F1 Management Chair Bernie Ecclestone and George facing a July 12 deadline to decide whether to renew the event, George said, “All I can do is put it at 50-50 at this point." The event drew over 200,000 fans for the inaugural running in '00, but it has attracted around half that in recent years. George said that the race “has been profitable for the track over the eight years as a whole, but ‘it would not be financially worthwhile to do it’ another eight years under the current contract terms." Some observers have “speculated that Ecclestone is demanding too high a price for Indy to keep the race, anywhere from [$10-30M] a year." George declined to comment on the price but said that it is “not the only issue." George: “What the event really needs is a title sponsor with the ability to promote the event and the [F1] world championship across the country and around the world." Ecclestone has repeatedly said that the series “does not need the U.S. market." George said, “That’s Bernie. Do I think he wants to be here? Absolutely. He wants to be here because the (car) factories, teams, sponsors, they want to be here" L.A. TIMES