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Mark, f1 is an expensive sport and it's not surprising that Gov't pay the bills because the intention at the end of the day is to get the coverage for the country. Prior to F1 back in 2004, hardly anyone knew Bahrain but that's not the case since. And since we have a free trade agreement with the US, Bahrain is using F1 to promote the country and hopefully attract international companies thus boost the economy and reduce unemployment.
China, Bahrain and the UAE are paying for F1 and I'm sure more. Qatar is paying for motogp.
EDIT by CRASH.NET! No political statements please.