F1: Terminates entire contract with Russian GP Promotor
The Americans don’t fool around with a tyrant.
Formula 1 confirmed this morning it has terminated its contract with the Russian Grand Prix promoter.
It means that Russia will no longer have a race in the future.
The promoter of the Russian Grand Prix, Rosgonki, claimed at the time that it was still possible the race would go ahead, but that the contract has now been terminated.
Last week, F1 announced that it is impossible to hold the Russian Grand Prix in 2022 in the current circumstances.
It means F1 will no longer move from Sochi to St Petersburg as planned in 2023. F1 was due to race at the revamped Igora Drive circuit starting in 2023, with the contract for the Russian Grand Prix running until 2025.
There are plenty of other countries that want an F1 race, including the USA which wants a third event in Las Vegas. So the loss in revenue to the commercial owners of F1, Liberty Media, will be minimal.