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Shanghai admits it is considering its F1 future.

The future of the Chinese Grand Prix is far from secure, race organisers have revealed – with the loss-making race potentially set to disappear from the Formula 1 calendar in just two years' time.

The state-of-the-art Shanghai International Circuit – built at a cost of a staggering $240 million (£161 million) – first welcomed the top flight in 2004 in an effort to boost the country's global image, and has a contract to host the Chinese Grand Prix until 2010.

Commercial rights-holder Bernie Ecclestone is believed to charge race promoters an annual rate of $50m (£34m) for the privilege – one of the highest fees for any country – and it appears the financial burden allied to low local interest and poor ticket sales may now be beginning to take its toll.

Indeed, it has been suggested by the BBC that some 'spectators' have been transported in especially to make the grandstands appear fuller than they in reality have been. No Chinese driver has ever competed in F1 in the sport's 58-year history.

“We're doing the assessment,” Qiu Weichang, deputy director of the Shanghai Administration of Sports, told international news agency AFP. “By next year we should be able to give you an answer.

“We want to create a win-win situation, for our side and for Bernie and the F1 organisers as well. If this is something we can do, and our co-operation is very happy and smooth, we will consider it.

“Of course we would like at least to break even, but there are two factors. One is the assessment; the other part is the win-win situation that we can create.”

Grands prix running at a loss are not unusual – with the French Grand Prix falling off the calendar over financial issues and the Australian Grand Prix registering a record $27 million deficit in 2008 alone – but Asia has been seen of late as F1's most prominent market for growth and expansion, with the inaugural Singapore Grand Prix this year, Abu Dhabi due to join the fray in 2009, South Korea in 2010 and India set to follow suit in 2011.

However, Shanghai's relationship with Ecclestone took a downturn when Yu Zhifei, the head of the track and a man who helped to attract the sport to China, was jailed in January after being caught up in a massive corruption scandal that also brought down the city's top official.

Related Pictures

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Chinese and F1 flags in Shanghai
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25.06.2017 - Race, The race stopped, Fernando Alonso (ESP) McLaren MCL32 and the Safety car
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25.06.2017 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W08
25.06.2017 - Race, The Safety car and Lewis Hamilton (GBR) Mercedes AMG F1 W08
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25.06.2017 - Race, Sergio Perez (MEX) Sahara Force India F1 VJM010 and Sebastian Vettel (GER) Scuderia Ferrari SF70H
25.06.2017 - Race, Lewis Hamilton (GBR) Mercedes AMG F1 W08 and the Safety car
25.06.2017 - Race, Fernando Alonso (ESP) McLaren MCL32 and Marcus Ericsson (SUE) Sauber C36
25.06.2017 - Race, Kimi Raikkonen (FIN) Scuderia Ferrari SF70H
25.06.2017 - Race, 3rd place Lance Stroll (CDN) Williams FW40
25.06.2017 - Race, 3rd place Lance Stroll (CDN) Williams FW40
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25.06.2017 - Race, 3rd place Lance Stroll (CDN) Williams FW40
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Ian Bryan - Unregistered

November 14, 2008 7:48 PM

Matt - It does seem strange that North America gets no racing (I forgetting for a moment that F1 is no longer racing) when there are ready made tracks just crying out to be driven. The reality is that the fees for the privilege to hold a F1 race are beyond reason and are totally dependant on the local politicos stroking their own egos and miss-using their taxpayer’s money. Bernie plays into that quite well. It would be great to see the F1 guys at Barber Park, Sebring, Watkins Glen and what about Laguna Seca. F1 through the cork screw at Laguna Seca would be worth the trip even from the UK. While I will miss the TV spectacular of Silverstone and the drivers all rate it, it was never a spectator track. I was spoilt at a young age by being able to climb over a friends back fence and watch any race at Brands Hatch including F1. Again a track with the spectator in mind: you just have to see the crowds that turn up for a Super Bike race they make F1 at Silverstone look like a closed club race. Agreeing with derek0113 it’s the spectators that make a sport. It would be nice to see IRL start pushing the technology envelope and filling the hole being left as F1 goes in a different direction. The problem is large corporations miss the point sometimes it’s not about money it’s about the guy in the shed outwitting the next guy. IRL is still close enough to the ethos of a motor sport that it could still make it work.

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