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Old 7 Nov 2018, 09:40 (Ref:3861585)   #1951
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F1 has announced there will be a GP in Hanoi in 2020 on a street circuit with a newly built pit and paddock area, some of the track has yet to be built and will become public road outside of racing. It is to be financed from private/business sources.

http://classic.autosport.com/news/report.php/id/139883

There was no mention of what part of the season it will happen but I do recall Chase Carey saying that he would like to see the Asian part of the season in the early part of the year.
It will be interesting to see what sort of live audience they get when compared with some of the GP's Bernie brought in.
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Old 7 Nov 2018, 10:05 (Ref:3861588)   #1952
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From my experience, albeit back in the early 90s, the Vietnamese people are about as interested in motor sport as the South Koreans.
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Old 7 Nov 2018, 10:06 (Ref:3861589)   #1953
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F1 has announced there will be a GP in Hanoi in 2020 on a street circuit with a newly built pit and paddock area, some of the track has yet to be built and will become public road outside of racing. It is to be financed from private/business sources.

http://classic.autosport.com/news/report.php/id/139883

There was no mention of what part of the season it will happen but I do recall Chase Carey saying that he would like to see the Asian part of the season in the early part of the year.
It will be interesting to see what sort of live audience they get when compared with some of the GP's Bernie brought in.
Why Hanoi? There's no motorsports heritage, or grass roots motosrport worth talking about in Vietnam. The only permanent track is HappyLand Circuit, a motorsport complex in Long An province, 35 kilometres from downtown Saigon, which was built in 2016. It will be another Indian/South Korean GP.
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Old 7 Nov 2018, 10:16 (Ref:3861592)   #1954
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Ha Noi is the capital.
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Old 7 Nov 2018, 12:23 (Ref:3861609)   #1955
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From my experience, albeit back in the early 90s, the Vietnamese people are about as interested in motor sport as the South Koreans.
To completely understand that analogy Peter I need to know how interested the Vietnamese are in the South Koreans...
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Old 7 Nov 2018, 12:25 (Ref:3861611)   #1956
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Not very.
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Old 7 Nov 2018, 16:06 (Ref:3861652)   #1957
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Well it’s been a big announcement, but we’ll see whether it is worth it
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Old 7 Nov 2018, 16:31 (Ref:3861659)   #1958
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from the article:

The Straits Times newspaper recently reported that the race would be funded by private backers rather than state assistance.

i really like that part of it...if true that its privately funded i think it has a better chance at success (or at least to be better attended) then the state run farces we have come to expect in recent years.

anyways, just a replacement for Malaysia or will another venue get priced out?
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Old 7 Nov 2018, 16:43 (Ref:3861662)   #1959
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from the article:

The Straits Times newspaper recently reported that the race would be funded by private backers rather than state assistance.

i really like that part of it...if true that its privately funded i think it has a better chance at success (or at least to be better attended) then the state run farces we have come to expect in recent years.

anyways, just a replacement for Malaysia or will another venue get priced out?
I don't see how it being privately funded is going to mean better attendance. If it were state run, then they would just bus the spectators in. As it's privately funded, those investors are going to want to make their money back and some, with some of the proceeds coming from ticket sales.

They are going to have to be careful, as to how they price them, if they want to attract home grown spectators in a country with no motorports heritage.
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Old 7 Nov 2018, 16:52 (Ref:3861665)   #1960
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I don't see how it being privately funded is going to mean better attendance. If it were state run, then they would just bus the spectators in. As it's privately funded, those investors are going to want to make their money back and some, with some of the proceeds coming from ticket sales.

They are going to have to be careful, as to how they price them, if they want to attract home grown spectators in a country with no motorports heritage.
Indeed. I don't get it 't'all....

At least govt. funded I can understand desired exposure for tourism $$$ (though I won't even touch that one....); but what's private to gain, indeed?
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Old 7 Nov 2018, 17:00 (Ref:3861669)   #1961
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just my opinion and dont really want to get political, but the state run races (Sochi, Abu Dhabi, Baku, Bahrain for example) dont enjoy large attendance nor do they bus people in. these are events for the 'elites' and no doubt they prefer the exclusive nature of a lower attendance.

its my hope that the profit model of private funding means a greater chance that they price the event accordingly and promote the event to the locals because they need to turn a profit and cant just turn around and collect more taxes to subsidize any shortfalls.
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Old 7 Nov 2018, 17:21 (Ref:3861674)   #1962
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just my opinion and dont really want to get political, but the state run races (Sochi, Abu Dhabi, Baku, Bahrain for example) dont enjoy large attendance nor do they bus people in. these are events for the 'elites' and no doubt they prefer the exclusive nature of a lower attendance.

its my hope that the profit model of private funding means a greater chance that they price the event accordingly and promote the event to the locals because they need to turn a profit and cant just turn around and collect more taxes to subsidize any shortfalls.
They bus them in, in China and did the same in S. Korea. Quite possibly those races you mention are for elites, however Sochi has a healthy attendance. I thought Abu Dhabi was full of celebs.

There is the novelty factor but I think they are going to have their work cut out promoting this to the locals, as there is no grass roots motorsport. That's why both S. Korea and India failed. I was surprised Turkey lasted as long as it did. Motorsport isn't everyone's cup of tea.
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Old 16 Dec 2018, 15:50 (Ref:3870682)   #1963
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According to a report in one of the financial pages of a UK Sunday newspaper, it appears that Silverstone and Liberty have yet to agree a new contract to hold a GP after next year's event.

The latest offer from the British Racing Drivers' Club (BRDC, owner of the track) is that Silverstone would hand Liberty all ticket revenue in return for Liberty paying them a fee to cover the costs of hosting the event.

In the six years up until the end of 2017, BRDC have made a combined loss of £51 million. So continuing to host the GP on the basis of the original contract would be suicidal as it included a 5% (compound) escalation clause.

The above offer would seem to be the only way that the race might continue in the UK.
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Old 16 Dec 2018, 16:11 (Ref:3870684)   #1964
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That’s good news, can’t imagine an F1 season without the British GP. It’s here to stay
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Old 16 Dec 2018, 16:39 (Ref:3870690)   #1965
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Doesn't sound like it's done deal, yet. However, hope it goes through. An F1 season, without the British GP, which has been there from the outset and considering how so many teams are based in the UK, would be ironic and not bode well.
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Old 16 Dec 2018, 17:16 (Ref:3870694)   #1966
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The main problem is that the British GP is the only event on the calendar that does not receive any financial assistance, direct or indirect, from any governmental body whether that be national, regional or local.


As a member of the BRDC's board said, they have until the 2020 calendar is announced to reach a deal that is satisfactory to both sides.
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Old 17 Dec 2018, 03:38 (Ref:3870757)   #1967
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That’s good news, can’t imagine an F1 season without the British GP. It’s here to stay
'Like to believe so too, however, nothing these days seems to be etched in stone....
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Old 17 Dec 2018, 19:42 (Ref:3870953)   #1968
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just my opinion and dont really want to get political, but the state run races (Sochi, Abu Dhabi, Baku, Bahrain for example) dont enjoy large attendance nor do they bus people in. these are events for the 'elites' and no doubt they prefer the exclusive nature of a lower attendance.

its my hope that the profit model of private funding means a greater chance that they price the event accordingly and promote the event to the locals because they need to turn a profit and cant just turn around and collect more taxes to subsidize any shortfalls.
Of course Australia is another example of a state run race that does is differently to those mentioned above.
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Old 17 Dec 2018, 23:40 (Ref:3870992)   #1969
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Of course Australia is another example of a state run race that does is differently to those mentioned above.
Tickets are not exactly cheap: https://tickets.formula1.com/en/3159...CAAEgLaQfD_BwE

and the event will cost the Victorian tax payers in excess of $80 million dollars for a temporary circuit and no benefit whatsoever to local racing.
Imagine the benefit of $80 million dollars a year spent on the local racing fraternity.
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Old 18 Dec 2018, 02:21 (Ref:3871018)   #1970
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Tickets are not exactly cheap: https://tickets.formula1.com/en/3159...CAAEgLaQfD_BwE
and the event will cost the Victorian tax payers in excess of $80 million dollars for a temporary circuit and no benefit whatsoever to local racing. Imagine the benefit of $80 million dollars a year spent on the local racing fraternity.
What would the benefit be to the citizens of Australia?
As in, to showcase what, to how many eyeballs, for the $$$? What "local" racing has an international audience in hope of improving the local economy (aka tourism and corporate investment)?

Formula One provides this opportunity for the nation as a whole, local racing does not.

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Old 18 Dec 2018, 22:30 (Ref:3871266)   #1971
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What would the benefit be to the citizens of Australia?
As in, to showcase what, to how many eyeballs, for the $$$? What "local" racing has an international audience in hope of improving the local economy (aka tourism and corporate investment)?

Formula One provides this opportunity for the nation as a whole, local racing does not.
The Victorian Auditor General has criticized much of this mythology.

If you take an attendance of 90 200 people in 2016 ( a generous figure boasted by the organizers) and a cost of $80 million dollars, then the taxpayer is funding every attendee at the track to the tune of $886, not sustainable.

The attendance figures are very doubtful and massively over estimated, the Grand Prix being the only event not to have its attendance properly verified. The organizers spent nearly half a million dollars in legal representation to prevent the actual attendances from being disclosed.

http://www.save-albert-park.org.au/s..._the_truth.pdf

It should also be noted that the Grand Prix was originally sold to the taxpayers on the basis that the event would be self funding and the state was only guaranteeing the event. It now costs not $80 million, but $100 million dollars a year I believe. I have no idea why, or how this event is allowed to continue by the Victorian Government, the "return" to taxpayers seems to be non existent making the event unsustainable and a cause for concern to us as fans.
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Old 19 Dec 2018, 00:42 (Ref:3871282)   #1972
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You've obviously never been to Lygon St after a Grand Prix then.
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Old 19 Dec 2018, 03:36 (Ref:3871301)   #1973
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i realise i am but just one person, but i wouldn't have been to australia if it wasn't for the grand prix, and i wouldn't be planning to go back to the melbourne area if it wasn't for the grand prix introducing me to the city. another hotel room filled, another few train tickets, plane tickets, word of mouth praise for the place, etc.

the general admission ticket price was neither here nor there in terms of the general cost of doing stuff in melbourne, and the venue was... well, aside from convenience factor, a warm version of snetterton. it was good being able to have a nosey in the supercars and look at the massive weapons they carry their teams around compared to european trucks though.

i think the same goes for quite a few fans at quite a few circuits across the world, and quite a few people who work in the sport too. it's that kind of intangible that i guess the local and national governments are going for.
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Old 19 Dec 2018, 03:55 (Ref:3871302)   #1974
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The Victorian Auditor General has criticized much of this mythology.

If you take an attendance of 90 200 people in 2016 ( a generous figure boasted by the organizers) and a cost of $80 million dollars, then the taxpayer is funding every attendee at the track to the tune of $886, not sustainable.

The attendance figures are very doubtful and massively over estimated, the Grand Prix being the only event not to have its attendance properly verified. The organizers spent nearly half a million dollars in legal representation to prevent the actual attendances from being disclosed.

http://www.save-albert-park.org.au/s..._the_truth.pdf

It should also be noted that the Grand Prix was originally sold to the taxpayers on the basis that the event would be self funding and the state was only guaranteeing the event. It now costs not $80 million, but $100 million dollars a year I believe. I have no idea why, or how this event is allowed to continue by the Victorian Government, the "return" to taxpayers seems to be non existent making the event unsustainable and a cause for concern to us as fans.
All of the above may be oh so true, but you're neglecting the worldwide exposure Australia gets to the millions that are watching. That's what any advertising is, which is what holding an F1 race is all about. The same as local govt. building a stadium to host a ball team; nations vying to host the Olympics.. Exposure is key.
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Old 19 Dec 2018, 03:57 (Ref:3871303)   #1975
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i realise i am but just one person, but i wouldn't have been to australia if it wasn't for the grand prix, and i wouldn't be planning to go back to the melbourne area if it wasn't for the grand prix introducing me to the city. another hotel room filled, another few train tickets, plane tickets, word of mouth praise for the place, etc.
You probably ate while you were here too, more coffers for the local economy.
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