Formula One news
Shanghai could axe Chinese Grand Prix
14 November 2008Formula 1 might enjoy its last race at the Shanghai International Circuit in 2010. According to a senior official Shanghai is considering axing the loss-making Formula One Grand Prix after its contract runs out in 2010.
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Deputy director of the Shanghai Administration of Sports, Qiu Weichang, told AFP: "We're doing the assessment. By next year we should be able to give you an answer."
China's Formula 1 circuit was being build back in 2003 for an estimated amount of 240 million dollars but there are hardly any fans attending the race. "We want to create a win-win situation, for our side and for Ecclestone and the F1 organisers as well," said Qiu. "If this is something we can do, and our cooperation is very happy and smooth, we will consider it. Of course we would like at least to break even. But there are two factors, one is the assessment the other part is the win-win situation that we can create."
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