Aug.20 (GMM) India has been given just 40 days to put a detailed plan in motion for its inaugural grand prix in Delhi.
F1's chief executive Bernie Ecclestone recently inked a 2009 race deal with the Indian Olympic Association (IOA), but he has now written to the potential promoter with a September 30 deadline, according to India's Economic Times.
By the end of the deadline, the IOA must have submitted to Ecclestone a detailed business plan and feasibility study, following speculation that funding or even land for a purpose-built circuit has not yet been organised.
"We are working on the project and will come out with a complete detailed plan in a couple of weeks," said IOA chief Suresh Kalmadi.
"The letter given (to us) by Mr Ecclestone is extendible beyond the deadline."
Trouble could also be brewing on the financial front. Businessman Vijay Mallya, already a sponsor of the Toyota team through Kingfisher Airlines, had been touted as a key backer of the Indian GP project.
But he now says: "If IOA is doing it, let them; why should I invest?"
Written: Mon, 20 Aug 2007 08:09:38
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