Formula 1: Indian Grand Prix Set to Return in 2016 (Greater Noida)

Buddh International Circuit might host the fourth Formula One Indian Grand Prix in 2016

A meeting between Formula One head Bernie Ecclestone and Indian GP race promoters Jaypee Sports International has proved fruitful.
At the inaugural Russian Grand Prix in Sochi, F1′s Bernie Eccelstone and JPSI’s Sameer Gaur had a meeting, to discuss the future of Formula 1 in India.
indian gp 2016

The closed gates of Buddh International Circuit, Greater Noida.
During the meeting, the two discussed tax and other issues which were coming the way of hosting an F1 race in India. Sameer Gaur, Head of Jaypee Sports International, has said that the meeting with Bernie was fruitful. If the hurdles are cleared, Formula 1 will be back in India for the 2016 season.
Following three successful seasons, Indian Grand Prix was dropped from 2014 calendar, majorly due to tax issues. Formula 1 body is awaiting court’s ruling on whether their income in India is taxable or not. Apart from this, there are many other issues which need to be sorted before F1 returns to India. One of them is reducing licensing fees. JPSI is believed to have paid $40 million (Rs 250 crores) per race to F1, as license fee.
Gaur hopes F1 will reduce licensing fees, but the major concern is tax issue, which needs to be sorted first. The tax issue is being heard at the Bombay High Court. Gaur is hopeful that it will be sorted, and so will the other issues. As the 2015 season is almost filled, it will be impossible to bring F1 to India next year, but 2016 is what he is aiming for.
Though nothing is certain yet, this news is a pleasant surprise for F1 fans in India, who were left wondering whether F1 would ever make a comeback in India.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s