UPDATE Bahrain has extended its contract to host Formula 1 racing, possibly until 2019. The country was the first to embrace the sport and has enjoyed an exclusive deal to host a Grand Prix in the Gulf region for the last few years but now rivals are popping up and in the next few days there will be confirmation that Abu Dhabi will be hosting a Grand Prix from 2009 onwards. Bahrain was not very happy with that news but has countered by extending a non-exclusive contract way into the future, to underline the commitment to F1 and to support the planned growth of the Sakhir development as a hub for motorsport and automotive activities in the region. Abu Dhabi and Dubai are both embracing the same concept with their circuits and theme parks, but Bahrain clearly wants to remain as the first and the most serious. The Bahrain track cost $150m to build and while the locals have made much of the value of the revenue generated by the three Grands Prix to date, the grandstands are still not full when the F1 racers come to town. That can change in the years ahead and with the development of land around the circuit as an automotive industry centre the project can still be successful, even if Abu Dhabi has bought its way onto the F1 bandwagon.
Grandprix.com
01/29/07 The Kingdom of Bahrain announced that it had secured the long-term future of the Bahrain Grand Prix until 2013 on Monday. The inaugural race was held in 2004 and Formula 1's commercial rights' owner Bernie Ecclestone expressed his delight at the news.
"It was a real pleasure to bring Formula One to the Kingdom of Bahrain, and I'm pleased to confirm that this relationship will continue into the future. Just three years ago Formula One – and motor sport in general – did not have any presence in the region.
"Bahrain has not only built a venue that is among the very best in the world and deservedly won acclaim for its Grand Prix, but has also built foundations for the current growth of interest and investment in Formula One across the Middle East.
"I look forward to continuing our relationship with His Highness the Crown Prince, the Bahraini government, the team at the Bahrain International Circuit as well as enjoying the warm and friendly welcome for which the Kingdom is renowned in the seasons ahead."