Korea to lose GP?

I don't think it will kill F1 as such

there will always be a new government somewhere or a new investor who thinks they can make money from F1 willing to throw money at bernie to bring F1 there or bring F1 back.
 
Can't say it's much of a loss. They did absolutely nothing with the circuit for a whole year - effectively it's a $200m waste of time and money for them.
 
Flibster said:
Can't say it's much of a loss. They did absolutely nothing with the circuit for a whole year - effectively it's a $200m waste of time and money for them.
Click to expand...

Not much they needed to do though really?

Well apart from the city/street section they were building, But how many tracks have that?

But to be honest this doesn't surprise me in the slightest.
 
The plan was to build a city around the track in Korea.

Bernie will not kill F1. There are people climbing all over each other to host races. I think having different tracks in new places is a good part, but I would prefer if they didn't drop away.

How about a 30 tracks/20 races idea? Tracks get into little groups of 3 and do a '2 years on, one year off' type thing. The alternating idea has worked for a few places.
 
Out of interest, why are all these countries clamouring to host a GP?

Given the recent examples of Turkey and Korea, which have paid exorbitant amounts of money to host the GPs, then had problems generating interest amongst the populous and as a result not selling enough tickets to even come close to a profit, the chance of making a return is incredibly slim - even in the long term.

If China wasn't so heavily supported by the government it'd probably have the same problem.

And with Russia building a circuit, based solely on the popularity of Petrov generating some interest. But the chances are he's not going to be around for another 2 seasons, so what happens in 2014 when the track is ready and the Russians have no representation on the grid, other than being a sponsor to a back end team, and little to care about.

It all screams of being short-sighted, and being fuelled by someone with a vested interest in the construction of a circuit, and not of a good solid motorsport infrastructure being setup in the selected country.
 
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Because sales of tickets is not what the tracks are sold on.

They are sold as ways to publicise places on a global scale. They are about bringing business to parts of the world it would otherwise not be in. Its about the wider implications on the country or region as a whole.

They are proposed (and approved) on the back of far reaching wide business plans with benefits far greater than just pure ticket sales.

The problem with Korea, is that once they built the track, they stopped. All the further benefits they sold the circuit idea on have not been built (the technology park and town around the track).

Its not all bad though, it has worked really well for some places (Malyasia, Singapore, Bahrain (pre 2011) and Abu Dhabi, etc).
 
Duke had THIS link in the Korean thread, I think it paints a better picture than Bernie's ramblings of complete nonsense 'things you can't afford' He's the one that has set ridiculous fees and the price escalators! +10% every year. The clowns who singed the deal just had their heads in the stars with 'I'm gonna be on TV' running through their farmer brains


Code: 
Year	Race Fee	Ticket	       Deficit
2011	35000000	15000000	20000000
2012	38500000	15000000	23500000
2013	42350000	15000000	27350000
2014	46585000	15000000	31585000
2015	51243500	15000000	36243500
2016	56367850	15000000	[SIZE="5"][i]41367850[/i][/SIZE]

Poor Mr Park at the KARA trying to fix up the evil deads of his predecessors, Korea is gonna be broke again! How do other races fair on the profit/loss scale?

It's a good track, could easily have good facilities if the people around it were more sure of F1s future in Korea, golf courses hotels apartments and industry would spring up around the area like wildfire!
But now Bernie has come out with those comments 99% sealing it's fate to be nothing, well, it's over.
 
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