2014 Paris auto show

From new models to future concepts, get all the latest news from the 2014 Paris auto show in October!

Win a space trip with Land Rover!

Enter Land Rover's amazing competition that not only has a trip into space as first prize, but a Northern Cape getaway as second prize.

Losses push Korea GP to brink

2011-10-28 07:56

NO DISCOUNTS: Bernie Ecclestone refuses to renegotiate Korea's GP contract as the race's organisers struggle with losses.

 
GREATER NOIDA, India - Formula 1 supremo Bernie Ecclestone has ruled out a cheaper deal for the Korean F1 GP, casting doubt over the race, which only had its debut in October 2010.

Ecclestone flatly refused South Korea's request to renegotiate the race contract, which has several years to run, despite threats the organisers would be forced to drop the event because of its large financial losses.

"It took us long enough to negotiate with them in the first place," Ecclestone told reporters in Greater Noida, ahead of the inaugural Indian GP. "There are lots of things in life you can't afford, and you don't have to have them."

UNPOPULAR AMONG LOCALS


Ecclestone was responding to comments from promoter Park Won-Hwa, who said the future of the Korean race, which held its second edition this month, was under threat without a new deal.

"We are trying hard, but we need the co-operation of Bernie Ecclestone. We certainly want to continue with this event because it is a big event, even though we have losses," Park told Autosport magazine.

He said the race had also proved unpopular with locals in Yeongam, a farming community in rural South Korea, who would prefer to see the money spent in other ways.

Stay with Wheels24 for the F1 weekend.

NEXT ON WHEELS24X

Read Wheels24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
4 comments
Add your comment
Comment 0 characters remaining

Inside Wheels24

F1 too easy to drive? Go faster...

The best way to make Formula 1 cars more difficult to drive is to make them faster, says veteran David Coulthard in reply to reports that the driving an F1 car today is "too easy".

There are new stories on the homepage. Click here to see them.