Bernie Ecclestone has said he would like the London GP to take place, when that will happen we do not know, whether it's even possible, with the head honcho man usually known as a man "talking nonsense" , he has fronted the GP and has said he would even pay the fee for the GP to happen, put your money where your mouth before we believe you Mr Big man (well small in his case)
here's the latest news on the London GP
Plans to host a grand prix through the streets of London was launched amid much fanfare in June, but barely four months later it is already facing major obstacles.
F1 supremo Ecclestone admits there are plenty of stumbling blocks with a lack of financial support from the government one of the major issues.
"I don't think the government would be prepared to put the required amount of money behind it," he told City AM.
"We would make a large contribution towards the race. That is whatever it takes to get it done with all the permissions. We could help the government and council with their costs."
London remains on a high following a successful 2012 Summer Olympics and Ecclestone feels the city should build on that by hosting a grand prix.
"I think they did a good job with the Olympics," he said.
"It is the first time I have been proud of England. They showed that England can do it if they have to. The population was behind it. I just think that Formula One could do the same job for a lot less.
"Let's look at the worst-case scenario, which they wouldn't need to, and say a race in London costs them $50m (£31m) a year. Over 10 years that is $500m (£311m). What is that as a percentage of the £10bn they spent on the Olympics? And you are going to get good coverage for 10 years. When you think really and truly, the F1 industry is British. We have won more World Championships [than the foreign teams] and it is not government supported at all."
source
here's the latest news on the London GP
Plans to host a grand prix through the streets of London was launched amid much fanfare in June, but barely four months later it is already facing major obstacles.
F1 supremo Ecclestone admits there are plenty of stumbling blocks with a lack of financial support from the government one of the major issues.
"I don't think the government would be prepared to put the required amount of money behind it," he told City AM.
"We would make a large contribution towards the race. That is whatever it takes to get it done with all the permissions. We could help the government and council with their costs."
London remains on a high following a successful 2012 Summer Olympics and Ecclestone feels the city should build on that by hosting a grand prix.
"I think they did a good job with the Olympics," he said.
"It is the first time I have been proud of England. They showed that England can do it if they have to. The population was behind it. I just think that Formula One could do the same job for a lot less.
"Let's look at the worst-case scenario, which they wouldn't need to, and say a race in London costs them $50m (£31m) a year. Over 10 years that is $500m (£311m). What is that as a percentage of the £10bn they spent on the Olympics? And you are going to get good coverage for 10 years. When you think really and truly, the F1 industry is British. We have won more World Championships [than the foreign teams] and it is not government supported at all."
source
