Posted by Euan on October 14, 2010 | No Comments
F1 chief Bernie Ecclestone has confirmed today that Russia will be a new Formula 1 venue. A contract has been signed from 2014 until 2020 for Russia to host the race. The race organizers, which appears to be the Russian government, will pay £25m for the privilege of hosting f1 racing in Russia. The contract also includes an option to extend the deal by another 5 years, until 2025. This comes in the first F1 season with a Russian driver, in Renault’s Vitaly Petrov.
It will be held in the Black Sea resort of Sochi, where the 2014 Winter Olympics will be held. Despite the contract start date of 2014 F1 racing may not begin at Sochi until 2015, as Russian officials fear that organizing the race event will interfere with their preparations for the 2014 Winter Olympics. Bernie himself had this to say on the agreement “It can be a super circuit. It’s all the things we need and wanted and we are very happy.”
Unless any track is dropped from the calendar, the Russian Grand Prix will be F1′s 22nd race venue, after the additions of India in 2010 and the USA in 2012. Earlier in the year Bernie Ecclestone said that he would like to extend Formula 1′s race calendar to 25 races. Ecclestone has already hinted at a new race venue in South Africa, coming after the country’s extremely successful hosting of the 2010 World Cup.