Korea's Bleeding
Tuesday, October 18, 2011 at 01:00PM Just a quick blog to comment on the two latest F1 GPs. Korea, one week after their second race, is already questioning the viability of paying Bernie $35m for the pleasure. Apparently the race costs $53m and they are getting $16m in ticket sales, not good arithmetic for a promoter, so they are asking Bernie to be "co-operative" and reduce the fee. It seems the locals believe that the money is better spent on developing the swamp than paying CVC.
In a similar vein the farmers are still threatening sit downs at the Indian GP site, which looks almost ready, just finishing the grandstands. Sound familiar. The promoters ability to get a return on his $400m investment is the the same one facing Korea. did they not think about this stuff before signing up?
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