Formula One particular could exchange IndyCar at Long Seaside: Extended Seaside City Council considering putting race contract up for bid

Prolonged Seashore City Council contemplating putting race contract up for bid

By: Autoweek Employees on March 1, 2014

While IndyCar (above) pays a sanctioning fee believed to be about $  2 million for a race, Formula One could bring 10 times that.

LAT PHOTOGRAPHIC – IndyCar has a contract for Extended Seashore that expires right after the 2015 season.

If the price tag is proper, Formula One could change the IndyCar Series at the prestigious street race in Lengthy Seashore, Calif.

The beginning point for this kind of an opportunity begins Tuesday when it appears Extended Beach’;s City Council will go over whether to open the contract for the Grand Prix of Prolonged Beach for bid.

Last yr, Bernie Ecclestone wrote a letter to Lengthy Seashore mayor Bob Foster saying his organization is interested in bidding on the contract, and it will do so with the assist of Chris Pook, the founder of the event in 1975.

The Grand Prix Association of Extended Beach has the contract and is tied to IndyCar via the 2015 occasion. This year’;s race weekend is April 11-13.

The timing of Tuesday’;s closed-door discussion is constant with prior renewal intervals. Contracts have been for 5 many years at a time.

F1 raced in Extended Seaside for 7 many years before Pook and the GPALB switched to Indy autos, then under the banner of CART. The GPALB is currently owned by Kevin Kalkhoven and Gerry Forsythe. Kalkhoven owns a 2-auto team in the IndyCar Series (KV Racing Technological innovation).

The ramifications are rooted in finances. IndyCar’;s sanctioning fee is believed to be someplace close to $ 2 million. F1 likely will command 10 times that plus call for upgrades to the track and its paddock.

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