Formula 1 goes to Russia with love in 2014

Moscow, Russia. 19th July 2009. Kazuki Nakajima, Williams FW31 Toyota. At the Moscow City Racing event. Photo: Bavaria Moscow City Racing ref: 090719fvef9945

In 2009 Williams were part of an F1 exhibition in central Moscow

Oct.14 (GMM) A deal to host at least seven Russian grand prix in Sochi beginning in 2014 has been reached, the country’s president Vladimir Putin announced on Thursday.

Bernie Ecclestone and Vladimir Putin shake on F1 deal

Bernie Ecclestone and Vladimir Putin shake on F1 deal

“An agreement with the (sport’s) organising company has been reached,” he told investors in the Black Sea resort city, according to the state news agency Ria Novosti.

F1 chief executive Bernie Ecclestone was reportedly also in Sochi to sign the contract.

“In order to organise the work properly, we should create a management company here, in our country. It should consist of private national companies,” Putin added.

The report said some of Russia’s biggest companies, including the state enterprise Rostekhnologii, mobile phone operator Megafon, oil company Lukoil and aluminum giant Rusal will invest in the circuit that could cost $200 million.

Nikolai Fomenko, boss of Marussia, said last month that he planned to bring the Russian sports car maker into F1 in 2012. The company already sponsors the Virgin team.

“The signing of the agreement to stage a grand prix in Sochi will help put a Russian team in F1,” said Igor Yermilin, an official of the Russian Motor Racing Federation.

  • Bec

    I wonder if the Russians will face the same problems the the USA is encountering … problems with ‘Red Tape’. ;)