F1 »

Korean organisers seek revised deal

The promoter of the Korean Grand Prix says it is '50/50' that the race will remain on the F1 calendar, with talks planned with Bernie Ecclestone over new deal
The promoter of the Korean Grand Prix thinks it is '50/50' that the race will continue to feature on the F1 schedule in future amidst ongoing talk that the event could be dropped from the calendar.

The race at the Yeongam circuit has a contract through to 2016 with an option beyond that, but has only been listed as provisional on the 2014 calendar alongside the races in New Jersey and Mexico.

The circuit near Mokpo has failed to gain the support of the Korean public while the race has been running at a loss since being run for the first time back in 2010.

Despite that however, promoter Park Won-hwa said he was hopeful that the race would live on and that terms could be agreed with Bernie Ecclestone on a new deal that would actually extend the one currently in place.

"I do not think it's going to be the last one,” he told Reuters. “We are eager to continue this event because we invest a lot of money to build this circuit," said the bespectacled Park in an interview at his office.

"Public opinion in Korea was very much against continuously holding this event because of a huge deficit. But now we are more or less stabilised financially and we would like to continue

"We don't know yet whether we can continue or not because we have to deal with Formula One Management. I do not know how it will end up.

"We want to renegotiate. Mr Ecclestone has his position, we have our position. Obviously the core issue is the money problem and we don't know if we can find a satisfactory solution or not. But I am very much hopeful because Mr Ecclestone is such a nice person and he knows our situation."

Park added that a renegotiated deal would make help to make the event more financially viable and would also go a long way towards increasing the amount of support there is from the Korean public as a whole.

"We certainly wish to improve the contract so that we can continue the event with the support of provincial parliament and the central parliament and public opinion," he said. "We could reduce the deficit very much. That's why public opinion has changed recently rather in favour of continuing the event."



Related Pictures

Click on relevant pic to enlarge
04.10.2013- Free practice 2, Felipe Massa (BRA) Scuderia Ferrari F138
04.10.2013- Free practice 2, Nico Hulkenberg (GER) Sauber F1 Team C32
04.10.2013- Free practice 2, Nico Rosberg (GER) Mercedes AMG F1 W04
04.10.2013- Free Practice 1: Esteban Gutierrez (MEX), Sauber F1 Team C32
21.09.2014 - Race, Bernie Ecclestone (GBR), President and CEO of FOM
21.09.2014 - Race, Christian Horner (GBR), Red Bull Racing, Sporting Director and Bernie Ecclestone (GBR), President and CEO of FOM
21.09.2014 - Race, Christian Horner (GBR), Red Bull Racing, Sporting Director and Bernie Ecclestone (GBR), President and CEO of FOM
21.09.2014 - Race, Bernie Ecclestone (GBR), President and CEO of FOM
21.09.2014 - Race, Bernie Ecclestone (GBR), President and CEO of FOM
19.09.2014- Free Practice 2, Bernie Ecclestone (GBR), President and his wife Fabiana Flosi (BRA)
19.09.2014- Free Practice 2, Bernie Ecclestone (GBR), President and CEO of FOM and Sir Jackie Stewart (GBR)
19.09.2014- Free Practice 2, Bernie Ecclestone (GBR), President and CEO of FOM and Sir Jackie Stewart (GBR)
19.09.2014- Free Practice 2, Bernie Ecclestone (GBR), President and CEO of FOM and his wife Fabiana Flosi (BRA)
19.09.2014- Free Practice 2, Bernie Ecclestone (GBR), President and CEO of FOM and his wife Fabiana Flosi (BRA)
18.09.2014 - Bernie Ecclestone (GBR), President and CEO of FOM and Bernie Ecclestone (GBR), President and CEO of FOM
18.09.2014 - Bernie Ecclestone (GBR), President and CEO of FOM and Christian Horner (GBR), Red Bull Racing, Sporting Director
18.09.2014 - Bernie Ecclestone (GBR), President and CEO of FOM and Christian Horner (GBR), Red Bull Racing, Sporting Director
18.09.2014 - Bernie Ecclestone (GBR), President and CEO of FOM and Christian Horner (GBR), Red Bull Racing, Sporting Director

Join the conversation - Add your comment

Please login or register before adding your comments.

Although the administrators and moderators of this website will attempt to keep all objectionable comments off these pages, it is impossible for us to review all messages. All messages express the views of the poster, and neither Crash Media Group nor Crash.Net will be held responsible for the content of any message. We do not vouch for or warrant the accuracy, completeness or usefulness of any message, and are not responsible for the contents of any message. If you find a message objectionable, please contact us and inform us of the problem or use the [report] function next to the offending post. Any message that does not conform with the policy of this service can be edited or removed with immediate effect.


andrew2k

October 05, 2013 11:27 AM

All street circuits(including Monaco) need to be removed from the calender ASAP and simpily because they produce nothing but slow processional, predictable races. Ontop of that street circuts are downright dangerous as demonstrated by Kubicia(Canadian GP), Webber in Valencia(a race that could've very much cost him his life) and earlier this year in year Monaco.



© 1999 - 2014 Crash Media Group

The total or partial reproduction of text, photographs or illustrations is not permitted in any form.