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Ecclestone questions Korean future

27 October 2011

Bernie Ecclestone has questioned the future of the Korean Grand Prix after it emerged that promoters are keen to try and renegotiate their deal with the F1 commercial rights holder.

The second Korean race a fortnight ago suffered a financial loss, with promoter Park Won-Hwa admitting that the fee originally negotiated with Ecclestone to host the race – which includes a 10 per cent escalator clause – was too high.

Having been unused between the first and second F1 races, circuit bosses are now keen to take more events to the venue in future but Ecclestone said he had 'no idea' if the Korean GP would continue if the fees couldn't be paid.

"There are lots of things in life you can't afford, and you don't have to have them,” he was quoted by the Press Association, "and it took us long enough to negotiate with them in the first place.

"[This year] was strange. They didn't really get behind it. That was a disappointment because it was a big enough effort to get it on in the first place."

Making it clear that the race was at risk, Ecclestone replied with a simple 'Yeah' when asked if the matter would be finished if Korean promoters decided they could no longer afford the race.


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