Formula 1 news

Ecclestone pushes for more F1 in China

Bernie Ecclestone is confident that Formula One will remain in China despite the international credit crisis and its affects on the event. Hosting the Grand Prix in Shanghai since 2004, the race weekend suffered from more low attendances and financial losses this year.

It is believed that the option for another five years' contract will be made available at the end of this year although the race, held at the Shanghai International Circuit with now only a single season of its current deal remaining, is believed to have made approximate losses of £503 million over the last half decade.

"As long as there is China, we will be here," Formula One Management's Ecclestone told Reuters. "Asia is growing while many parts of the world are dying, that's the difference. It is disappointing that it's not supported by local companies and I think they're missing an awful lot; it seems to me in China that nobody cares about branding and a Grand Prix is a good chance to promote a brand."

Sebastian Vettel won 2009's race last Sunday, leading home an historic Red Bull Racing one-two result from Mark Webber.

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