Korean Grand Prix loses over ??100m in three years

F1 Fanatic round-up

Start, Korean Grand Prix, 2012In the round-up: The Korean Grand Prix continues to lose money, though the size of its loss fell in 2012.


Top F1 links from the past 24 hours:

South Korea Grand Prix stuck in the red (The Star Online)

“The only positive sign for organisers was that the 2012 version of the Formula One race haemorrhaged less cash – 39.4 billion won [??22.8m] – than the previous two. The first race in 2010 ran an operating loss of 72.6 billion won [??42.1m], while last year’s event showed a 61 billion won [??35.3m] deficit.”

Q&A with Force India?s Vijay Mallya (F1)

“We are thinking about [a replacement for Nico Hulkenberg], but we are in no immediate hurry because there does not seem to be the kind of quality we need to replace Nico available, either in the current grid or in GP2. We have to think a little bit beyond that, which we are doing now.”

No need for night grand prix: Jones (The Age)

Alan Jones: “As Australians, we’ve been getting up in the middle of the night to watch European grands prix for the last 25 years. They [European viewers] can get up to watch one.”

AGP 60th (YouTube)

F1 ‘must capitalise’ on Austin impetus (Autosport)

“There is a lot to learn from what went right. We have some ideas about how to make this work in the United States – where it has struggled in the past.”

Come and race it (Jamey Price Photo)

I am thrilled to see Jamey achieve his ambition of photographic and F1 race weekend. His work has appeared on F1 Fanatic before and is absolutely from the top drawer. Check out his brilliant photographs here.

Notes from the Circuit of the Americas (Peter Windsor)

“The Austin circuit was built for the bargain-basement price of $300m [??188m] (compared with the $1.2bn [??753m] spent on Abu Dhabi) and that meant fewer luxuries and more essentials ?ǣ an ethos perfectly in tune with these economic times. And still they didn?t skimp on the real necessities ?ǣ by which I mean the design of typeface for the building titles; the use of local limestone on some of the paddock structures; decent, free, Wi-Fi; and the track itself, of course.”

Austin GP A Smashing Success (Speed)

Mercedes F1 team CEO Nick Fry: “I think the difference [compared to Indianapolis] is that Austin is a very significant technological town, it?s got a lot of very high tech businesses. There?s a lot of technology in this area, there?s clearly also a lot of wealth in this area, and obviously it?s a huge college town. On top of that, it?s well known for its music scene. The combination of the technological side, the educational side, the entertainment side means that it?s an appealing place for people to come and visit.”

Amazing Austin (ESPN)

“We… met the three English guys that had been painting the stars on the run-off areas and had been there since September. Obviously they were gutted to have to paint them out, it was a lot of work on their behalf but the lines did create really nice pictures at the end of the day.”

UT football, F1 on collision course in 2013 (Austin-American Statesman)

“The two mega-events are now on a collision course for the weekend of Nov. 15-17, 2013. Texas? schedule, which was released Tuesday by the Big 12, has the Longhorns hosting Oklahoma State on Nov. 16 at Royal-Memorial Stadium. That conference showdown should draw more than 100,000 fans.”

Fans? Forum Austin, Texas – Thursday 15th of November, 2012 (FOTA)



Comment of the day

@Slr on where the Sauber drivers will end up next year:

As I?m a big fan of Kobayashi, I?m praying that he doesn?t lose his seat, especially to Gutierrez of all people.

Perez has been the better driver at Sauber this year, but the gap between them isn?t that much. It certainly isn?t big enough to merit Perez going to McLaren and Kobayashi dropping out of Formula One altogether.

I think that Sauber kind of don?t want to give Gutierrez a drive if they can help it, because I think they would have signed him up already if they really did. He?s certainly not ready for Formula One, and Kobayashi is a better option every day of the week.

From the forum

Happy birthday!

Happy birthday to Clare MSJ, Dane, Rachel and Richard!

If you want a birthday shout-out tell us when yours is by emailling me, using Twitter or adding to the list here.

On this day in F1

Ten years ago today Max Mosley warned teams they would be excluded from races if they broke the ban on team orders which he introduced after the 2002 season, following the controversial use of them by Ferrari, then run by Jean Todt, on the last lap of the Austrian Grand Prix.

No such ban was ever enforced. When Ferrari imposed team orders in a similar way eight years later the FIA, now headed by Todt, declined to impose a meaningful punishment. Todt scrapped the ban at the end of 2010.

Image ?? Korean GP/Sutton

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62 comments on Korean Grand Prix loses over ??100m in three years

  1. melkurion (@melkurion) said on 22nd November 2012, 12:38

    Apparently Coca Cola has just announced they are entering F1 as a title sponsor! Although which team is not yet known, it IS a team which has won a race this year.

    I think Red BUll and Ferrari are out. WHich leaves Mercedes, Williams, Mclaren and Lotus.

    If Williams, then maybe that explains why pastor is yet to be confirmed…..

  2. I honestly fear Austin could have been Hamilton’s last win – unless he wins in Interlagos – as I don’t think Mercedes will be competitive enough in the next seasons. I could well be wrong, and I hope so for Hamilton, but unless he then returns to another, stronger team I think he’ll never win again – if the Mercedes is as bad as this year’s.

  3. Tom (@newdecade) said on 22nd November 2012, 16:04

    I hope they work something out with the scheduling regarding the UT v. OK game…. The organisers will know that in Austin no matter how devoted the support for F1, it can never win in a head to head against the football!

  4. Dafffid (@dafffid) said on 22nd November 2012, 19:15

    It’s 2012 – I don’t watch ANY programme when it’s actually shown and I can’t think of anyone I know who does. We either download them or record them. Who the hell has the time or opportunity or perverse desire to run their lives around something as obsolete as TV schedules? Early afternoon is a lousy viewing time anyway – stuck right in the middle of the day, putting paid to any kind of family event or day out (or in my case normal working day) – too early to enjoy a drink, too late to watch over breakfast and then go out.

    They should run the races at the best time for the spectators who have paid the money to see the race in person. The number of fans at the event is the most important factor for keeping races on the calendar. TV audiences need to get with the 21st century and watch the race as and when it’s convenient via the technology options easily available to them.

  5. Howard (@howard) said on 23rd November 2012, 10:24

    The local Korean organisers of the GP were just arrogant and had no business plan actually in place, it was all their own personal fantasy.
    From what i heard alot of staff have abandon ship becaue of his arrogance.
    Anyway there is another track being developed right 130km from Seoul called Inje Autopia, designed by MCS from Texas, they started in August and the track was already layed.
    Motor enthusiast have already taken to the recently layed track in their Ferrar’s, Porsche’s, BMW M cars and what not even in the shitty weather. Makes a big difference with the location.

  6. AndrewTanner (@andrewtanner) said on 23rd November 2012, 13:36

    Rubbish seeing the COTD with what’s happened with Kobayashi today :(

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