JANUARY 25, 2006

Formula 1 too expensive for London

The Mayor of London Ken Livingstone has never been backward in saying what he thinks and he thinks that Formula 1 is too expensive for London. Instead the city has done a deal with Amaury Sports Organisation to run the prologue and the first stage of 2007 Tour de France in London.

The Mayor of London Ken Livingstone has never been backward in saying what he thinks and he thinks that Formula 1 is too expensive for London. Instead the city has done a deal with Amaury Sports Organisation to run the prologue and the first stage of 2007 Tour de France in London. That will cost London $2.7m which Livingstone told Bloomberg was dramatically less that the cost of a Grand Prix. Livingstone says that he believes the Tour de France would be hugely beneficial for London, attracting large numbers of people and generating income in the region of $80m.

It is worth noting that the Amaury Sport Organisation not only runs the Tour de France but also the Dakar Rally and owns a number of magazines including the huge French sports daily L'Equipe.

Livingstone said that London might consider running a race if it did not involve a huge subsidy from the London taxpayers.