Privatization to save the Interlagos circuit?

The Autodrome Jose Carlos Pace is reportedly about to be sold to private investors for 2.8 million Euros to ensure the long-term viability of the circuit. The mayor of Sao Paulo, Joao Doria, intends to significantly reduce the city’s financial involvement in the Grand Prix. The country, experiencing the worst recession in a century, can no longer afford to spend public money on organizing the annual Formula 1 race.

Among the potential buyers of the circuit is a certain Bernie Ecclestone, who recently stepped down from his position as director of Formula 1. The octogenarian, who lives in Brazil, is reportedly in the running to become, at least partially, owner of the Paulista circuit. At least that’s what Joao Doria believes: « He has expressed interest. He will participate in the auction of the track. I have a feeling that international funds will also participate. I have no doubt that we will sell the Interlagos track and sell it well. »

Besides Ecclestone, it appears that the new owners of Formula One Group, Liberty Media, may consider acquiring the circuit to secure the future of the race and carry out the necessary work to make the venue more attractive. This acquisition could be part of the overall sports strategy that the American group wishes to implement, as hoped for by Bobby Epstein, the promoter of the Circuit of the Americas (COTA), a few days ago.

In the continuation of his interview with Reuters, the mayor of Sao Paulo explains the need to privatize the track to ensure its future in the calendar of the premier discipline of motorsport: « The privatization of the circuit guarantees continuity with Formula 1. I understand that Formula 1 is important, but with private money, not public money. It is perfectly possible to continue racing here with private money on a private circuit. »

For his part, Bernie Ecclestone is cautious about his potential involvement in the purchase of the circuit: « They want to sell. They won’t subsidize anything there. They won’t put any money. They want to get rid of it. I haven’t made a decision « yes, I will buy» or « no, I will not buy». We will wait and see. I think they will probably think about it. »

The Brazilian track, which has been on the F1 calendar since 1973, has already hosted 34 editions of the Brazilian Grand Prix. It is currently the only race on the calendar that takes place in South America. The location is highly appreciated by drivers and the public, who always create an atmosphere that gives the place a very festive vibe. However, significant investments are needed to ensure the race can continue, with the track requiring resurfacing and the paddocks needing to be relocated for complete reconstruction.

The new owners will also have permission to build a hotel, luxury apartments, and a museum in tribute to Ayrton Senna. This is what Doria indicates: « We will probably have three buildings: one for mixed use or entirely for a hotel, and two buildings for luxury apartments ».

To do this, a relocation plan must first be implemented for the often disadvantaged people living near the circuit, avoiding the pitfalls of the Olympic Games and the FIFA World Cup recently held in the country.