OCTOBER 27, 2011
Ecclestone confirms NJ race, casts doubts on Korean future
F1 commercial boss Bernie Ecclestone has confirmed a 10-year deal for the projected Grand Prix of America, announced Tuesday, at the same time as telling reporters in India that the future of the Korean GP could be doubtful.
Ecclestone said that there would be "no problem" with the US having two grands prix if Austin goes ahead as scheduled from 2012 and the New Jersey race takes a slot on the calendar from 2013.
After a change of local government in Korea, the word at the Korean GP was that a reduction in hosting fees was being sought from Ecclestone if the race was going to have a long-term or even medium-term future.
"Lots of things in life you can't afford," Ecclestone said. "You don't have to have them... It took long enough to negotiate with them in the first place."
If government funding in Korea is stopped, or reduced, the chances of the Yeongam circuit making significant income out of ticket sales with the circuit located on reclaimed land almost four hours by rail from the capital Seoul, look slim.