Ecclestone: Greece would like to host a Formula 1 Grand Prix
Bernie Ecclestone, the FOM chief, revealed that he could soon meet with Greek officials to discuss the potential hosting of a Formula 1 Grand Prix in the country in the coming years.
As Greece has been facing an austerity regime for several months now, the country is reportedly interested in hosting a Formula 1 Grand Prix according to Bernie Ecclestone. The FOM recently registered the trademark Formula 1 Mediterranean Grand Prix, which could be associated with a race in Greece.
« The Greeks are eager [to host F1]. They want me to meet the Prime Minister or the mayor. We’ll have to see if they have the money. » Ecclestone told CNN.
Private investors are interested in the construction of a track in the city of Keratsini-Drapetsona, located about 10 kilometers from Athens. The total cost of construction and hosting the F1 – for a 10-year contract as is done for new circuits – would be around 1 billion dollars, or approximately 760 million euros, according to CNN.
Spending such a sum to host a F1 GP for a country that has benefited from a bailout plan of over 150 billion euros could be difficult to justify, but according to Dimitris Papadopoulos, one of the Greek F1 experts, it could be achieved through private funding: « Greece has suffered and is still in the midst of a massive crisis, but it is now in a stabilization phase and things are slowly changing. Priorities must be set according to where the government’s funding should go, and I am quite certain that a F1 race is not on the priority list. However, private investors would need to look into the possibility of financing the construction of a city circuit in the Drapetsona area and hosting a race. The plans have been revealed, financial analyses conducted, and the project has been presented to interested parties for funding. Greek Prime Minister Antonis Samaras sent a letter to the mayor of Drapetsona, in which he provides his support for the attempt based on private financing. »
However, this is not the first time that Greece has been mentioned as a potential new host for Formula 1. It began in 2006, following a revelation by the British magazine Autosport, which reported the possible hosting of a Mediterranean Grand Prix alternating between Spain (in Valencia), France (at Paul Ricard), and Greece, among others.
