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Baku wants to renegotiate F1 contract

2018-05-21 12:32

Image: Former Formula One boss Bernie Ecclestone (L) and F1 chairman and CEO Chase Carey.

Baku promoter Arif Rahimov has admitted the race wants to renegotiate its contract with Liberty Media.

In recent weeks, rumours have circulated that suggested the Azerbaijanis want to end the ten-year deal negotiated by Bernie Ecclestone.

'Let's see how it works'

The deal actually includes a mid-point break clause, with the proviso that the promoters announce it two years in advance.  

That would be 2018.

READ: Carey wants new F1 deal with Barcelona

"We want to keep the race. But we want to renegotiate. Let's see how it works," Rahimov told Speed Week.

He insisted that other than the terms of the contract, Baku is happy with Formula 1.

"The race is exactly what we hoped for. Tourism has increased by 20 per cent. We had 80 000 spectators this year, and that number will increase steadily," said Rahimov.

Read more on:    liberty media  |  baku  |  motorsport  |  f1

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