Greek government to subsidise F1 track

Greek flagOct.2 (GMM) Greece has set aside almost € 30 million to subsidise the construction of a Formula One circuit, the country’s development ministry has said.

Bloomberg reports that, despite Greece’s deep economic woes, the track will be built near the western port city of Patras at a total cost of just under EUR 95 million.

Private investment company Racetrack Patras SA will oversee the project, journalist Paul Tugwell reports.

Subbed by AJN.

  • JodyRenza

    I would not bank on that seeing in what state their economy is!

  • Steve Maximus

    Haaaa. Most recent tracks have cost €200m to build. They will do it with €95m? And €30m will come from the government? All with no contact and the example of Turkey to show the lack of local interest in racing means no money coming in? Genius plan.

  • Get Some

    These idiots can barely subsidize lunch for their elected officiald. How are they supposed to handle an FIA Grade 1 circuit?

  • AlsoRan

    Building another track just means canceling an existing race.
    What’s the point?
    There are only so many races that can be run each year.

  • michael

    I think the timing is right to have even more unrest and riots in Greece. If the Government goes through with this then they deserve every bit of hatred from it’s citizens.