Results tagged “formulaone”

Earlier reports that Shanghai may axe its loss-making Formula One Grand Prix once its contract runs out in 2010 have now been negated by a spokesperson for one of the organisers. Qiu Weichang, deputy director of the Shanghai Administration of Sports, was previously reported to have said:

We're doing the assessment. By next year we should be able to give you an answer," he said in an interview late on Thursday. China's biggest city spent 240 million dollars on the state-of-the-art Shanghai International Circuit and hosted its first Formula One race in 2004. But the event has been plagued by poor ticket sales and Qiu said its fate was in the balance.

Continue reading "Shanghai's F1 Grand Prix to be extended past 2010 after all"

You can almost smell burning rubber wafting through the air.