SEPTEMBER 28, 1998
Formula 1 and Indianapolis
BOTH the Indianapolis Motor Speedway and Bernie Ecclestone have denied reports in the Indianapolis Star newspaper that a deal has been reached for the United States Grand Prix to be held at the Brickyard for 10 years, starting in SeptemberÊ2000.ÊThe newspaper - which is well-connected at the Speedway - reported last week that Indianapolis owner Tony George and Ecclestone had reached an oral agreement and that George was going to invest $15m in upgrading the circuit. A local TV station also reported that a deal had been agreed but was not signed. There were also reports of a draft press release being circulated at the Speedway.
We believe that the race will go ahead but that there is a sticking point between George and Ecclestone over the date of the race. George is understood to want a date in September while Ecclestone would prefer to tie the race to the Canadian GP in June.
If the deal goes ahead, the $15m investment will include a completely new pit building with 24 F1 standard pit garages and an area for the Paddock Club.