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Baku denies F1 race threatened by oil woes
Race organisers have reassured Formula One fans that Azerbaijan's inaugural Grand Prix in June will go ahead as planned despite a slump in global oil prices and the weakness of the local currency. "The devaluation of the manat will have no impact with regards to the staging of the first ever Formula One race in Azerbaijan," Baku City Circuit (BCC) said in a statement in response to media speculation. "When the budget for the Grand Prix of Europe was approved, it was initially calculated in US dollars. As a result, we are not expecting any changes to the current event budget." Hosting fees paid to Formula One's commercial rights holder vary, with traditional European...
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9y ago from SuperSport.com
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