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Private companies to fund Russian GP

Published on 10 Feb 2017 09:52
6
By: Fergal Walsh

The 2017 Russian Grand Prix will be paid for by private companies. Until now, the state has funded the event which kicked off in 2014, with Russian President and good friend of Bernie Ecclestone Vladimir Putin attending each year.

Reports from Russia are now suggesting that the fee for the Grand Prix this year, which will be paid to the commercial rights holder, will be done by private companies.

Russian deputy prime minister Dmitry Kozak confirmed that the major investors are Lukoil, a major Russian oil company, VTB, a finance bank, and aluminium company Rusal.

"Now the contribution is paid by Lukoil, VTB, Rusal and many other companies. A pool of about ten investors," he said.

Fergal Walsh

Harryw

Posts: 107

Its terrible that a country that invades its neighbours, found guilty of cheating in many sports and are corrupt as hell can host f1. Dropped when contract expires I hope

1
Feb 10 2017 - 10:13

F1 News

Replies (6)

Harryw

Posts: 107
Its terrible that a country that invades its neighbours, found guilty of cheating in many sports and are corrupt as hell can host f1. Dropped when contract expires I hope
- + 1
- Feb 10 2017 - 10:13
- calle.itw
  
  Posts: 8,527
  If they allow even one country who do things like that into the sport they will probably have to allow others aswell. China isnt exactly very pleasant towards Mongolia or Tibet and has a history of corruption and doping in sports, and the U.A.E countries dont exactly have clean hands.
  + 0
  
  Feb 10 2017 - 12:22
- Wolfgang
  
  Posts: 313
  Don´t forget the EU played a big role in that conflict either, only thing is it´s never mentioned in our "media", it´s always the big bad russian.
  -> So then why to have a grand prix in the US? To be honest: Britain is more or less the same like the US.
  Pretending to be the "Police of the World" (or a part of it in britains case) doesn´t justice to bomb the hell out of some countries anywhere in the world. It´s all about geostrategic places and interests in pipelines, oil-fields, weapons, etc.
  
  Considering that we should kick at least Austin, Silverstone, Russia, UAE, and Bahrain.
  
  And what´s told and shown in the media is more or less what they like you to think. (mass destruction weapons, terroristic organisations, actions against human rights etc blabla)
  + 0
  
  Feb 13 2017 - 12:35
talktohenry

Posts: 362
Looks like Mr Putin has ordered them to pay up, there is no such think as a 'private company is Russia, they all corrupt and connected to the Kremlin, that's the way Russians role!

I'm glad they spending their money on F1 and not other sports, in the end all the money comes from oil anyway, and once that's gone Russia will be like Somalia, with not two pennies to rub together as they incapable of running the economy!
- + 0
- Feb 10 2017 - 10:37
- Wolfgang
  
  Posts: 313
  I´m sorry but that´s nothing but rubbish.
  In that context i´m wondering how Great Britain will work after Brexit..
  Which industries are currently in Britain not run by foreign country companies?
  Where is all the british craftmansship gone? London is probably completely financed by arab & russian money and once they (or their money) are gone London and the whole UK is going to collapse. You surely won´t export fish´n´chips or do you?
  + 0
  
  Feb 13 2017 - 12:39
f1fan0101

Posts: 1,804
I hope the companies don't get bored of funding the race, or see it as a waste
- + 0
- Feb 10 2017 - 12:31