We might get to see Formula 1 race cars roaring down the straights of the Buddh International Circuit (BIC) in the not-so-distant future, with the Sports Ministry looking to revive the grand prix that was last held in India in 2013.
A PTI report states that Sports Minister Mansukh Mandaviya has visited the track in Greater Noida and initiated talks with officials from the Yamuna Expressway Industrial Development Authority. The state-run body acquired control over BIC from the now-bankrupt Jaypee Group following a series of legal disputes tied to unpaid dues.
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The central government is reportedly keen on the return of the high-profile motorsport event. The Formula 1 Indian Grand Prix took place for three consecutive seasons between 2011 and 2013, with now-retired Sebastian Vettel having won all three for Red Bull Racing. The race was later dropped from the F1 calendar owing to taxation hurdles and the lack of government support.
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Can F1 return to India?
In discussions with promoters and track owners over timelines, Mandaviya reportedly recommended handing over BIC’s ownership to any sports management company for a few years to work on bringing the sport back to the country.
{{/usCountry}}In discussions with promoters and track owners over timelines, Mandaviya reportedly recommended handing over BIC’s ownership to any sports management company for a few years to work on bringing the sport back to the country.
{{/usCountry}}Bringing the race back would, however, require coordinated efforts from all ends. With Formula 1 currently running a 24-race calendar and several countries showing strong interest in hosting a grand prix, competition for slots remains intense.
Hosting races also involves significant costs, estimated to range between $20 million and $60 million annually, with many existing races currently backed by government funding, particularly in the Middle East. India does have a major ace up its sleeve in the form of the world-class BIC that previously drew large crowds during its brief three-year stint on the F1 calendar before shutting shop.